Bitcoin’s price has surged past the $79,000 mark for the first time, hitting new highs throughout the week since Donald Trump re-entered office as U.S. president. On Nov. 10, Bitcoin reached $79,141 on Coinbase. However, traders are cautioning people not to make impulsive decisions. Bitcoin analyst Tuur Demeester shared in an X post that there’s no need to rush, as holding onto Bitcoin will work for you. He added:
$79k Bitcoin, new ATH. Steady folks, this is just the beginning. This is a time for being right and sitting tight.
Glassnode lead analyst James Check expressed a similar view. He said that while Bitcoin has hit new all-time highs, the gap between its price and the 200-day Moving Average (DMA) remains relatively stable.
Crypto experts react to Bitcoin $79K milestone
Popular crypto analyst Invest Answers shared with their 227,400 followers on X, “We’re taking off,” after Bitcoin broke past the $79,000 mark. Crypto commentator Rain echoed the sentiment, telling their 148,000 followers, “We are so back.” Pseudonymous trader Cantonese Cat also noted that risky leveraged positions did not fuel this price surge but rather simply a natural rally.
After Bitcoin broke its all-time high of $73,679 on Nov. 5, it continued to climb, reaching over $76,000 the next day and then surpassing $77,000 on Nov. 8. This surge led Bitwise Invest CEO Hunter Horsley to remind his followers that when Bitcoin’s price rises, people start to see it as more likely to succeed, which boosts its perceived value. Instead of thinking it’s overvalued, many believe it’s just getting started.
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