Bitcoin Price Sets New All-Time High, Surpassing $94,500

Less than 24 hours after Bitcoin surpassed $93,900, the cryptocurrency confidently crossed the $94,000 mark, setting a new all-time high.

On Binance, the Bitcoin price briefly reached $94,585, with the weighted average of the new all-time high, according to CoinGecko, being $94,617.43.

Most of the top altcoins did not react to Bitcoin’s sharp rise. Exceptions were Cardano (ADA) and XRP, which saw increases of 14.4% and 4.1% over the past 24 hours, compared to Bitcoin’s 3.7% increase.

Cardano founder Charles Hoskinson and Ripple CTO David Schwartz recently exchanged complimentary tweets. Both admitted they had productive discussions on technical issues related to Midnight and XRP projects.

It was great talking to @JoelKatz about Midnight and XRP. Wonderful technical conversation.

— Charles Hoskinson (@IOHK_Charles) November 18, 2024

Schwartz referred to the Cardano sidechain being developed as “an extremely interesting” and promising solution.

This may mark the end of the conflict between Hoskinson and the XRP community, which arose around the conspiracy theory that the Ethereum team allegedly encouraged the SEC to attack Ripple.

In early November, Hoskinson apologized and proposed collaboration between the projects.

Experts link the rise of Bitcoin on November 19 to the start of trading on BlackRock’s spot Bitcoin ETF options, and today, a similar product from Grayscale is expected to launch.

Grayscale is thrilled that Options trading on both $GBTC and $BTC will begin tomorrow – further developing the ecosystem around our US-listed #Bitcoin ETPs. pic.twitter.com/i7kFpOiogq

— Grayscale (@Grayscale) November 19, 2024

Reminder: CryptoQuant founder and CEO Ki Yong Joo revised his Bitcoin price forecast, increasing the target level to $135,000 for this cycle.

Analysts from BCA Research and Bernstein also anticipate Bitcoin’s price could rise above $200,000.