Bitcoin Hits Record High at $89k, Dogecoin Moons, and the Crypto Circus Is Back, Baby!

Well, well, well… looks like Bitcoin just went full Kanye and broke another record. On Monday, November 11th, the golden child of the crypto world hit a face-melting $89,600. That’s right, friends—Bitcoin is now more expensive than your average American’s yearly salary, and it’s showing no signs of slowing down. Meanwhile, your savings account? Still chilling at 0.01% interest. But I digress.

Naturally, the crypto bros are out here poppin’ bottles like they just found out their favorite NFT isn’t worthless. In fact, Chris Chung, CEO of Solana DEX aggregator Titan couldn’t be more bullish: “Bitcoin’s all-time high and momentum show no signs of stopping,” he declared. And he’s definitely not wrong. Why? Well, because while you may (or may not) hate to see it, it’s all thanks to The Don’s reelection.

(Source: Yahoo Finance) 

I know, I know, you’re probably tired of seeing Teflon Don and $DJT blasted all over the media, but given that Trump is back in the White House for round two - while promising the crypto world massive deregulation -  it’s got the degenerate crowd losing their collective minds. Meaning ole Gary Gensler better start updating his LinkedIn profile, like, yesterday. 

In addition, you also have Wendy O, TikTok’s self-proclaimed crypto queen, who’s been busy hyping up her followers with “Bitcoin keeps breaking all-time highs... this caused a full-blown crypto bull market to begin!” Sure, Wendy. That’s one way to say it. Another way would be: “Retirement plans are being YOLO’d into digital assets at an insane rate”. 

(Source: Giphy) 

For instance, according to Lukas Enzersdorfer-Konrad (deputy CEO at Bitpanda, because apparently every crypto exec needs a double-barreled last name), this WTF insanity inside the crypto market is a “combination of factors.” Translation: it's a mess, but in a good way. Sure, Trump’s reelection is 100% the focal point, but we’ve also got record ETF inflows, retail investors FOMO-ing harder than ever, and institutions sneaking in to grab their slice of the pie before the whole thing explodes.

What’s more is that it’s not just the small fish driving this—there’s big money in the game now. MicroStrategy is out here flexing its Bitcoin chest like it’s 2021, and Coinbase is watching its stock price soar, probably while preparing the paperwork for their next Super Bowl ad. On the other hand, BlackRock is reportedly creating “insane demand” for BTC as investors are piling $875 million into their Bitcoin backed fund. 

(Source: Coin Telegraph) 

Now with that said, while Bitcoin may have blasted up to $89,000, it’s also dropped back down to $85,000 on the day, leaving $600 million in liquidations in its wake. Bulls, bears, degens—it didn’t matter, everyone took a hit. Because that’s the name of the game, friends: it giveth, and then it taketh away like a slot machine that’s just a little too rigged.

Meanwhile in the land of meme coins, Dogecoin is back in the spotlight, hitting a peak of 140% after election day. Why? Because it’s the only thing Elon Musk loves more than trolling the haters. And with Trump back in power, Doge is, once again, howling at the moon. Now that is something we all love to see. 

(Source: Giphy) 

Going forward though, while there’s still a squad of skeptics in the mix, analysts are remaining bullish - with some calling for the entire crypto market to balloon to $10 trillion by 2026. Yeah, $10 trillion. Let that sink in while you’re trying to decide if you can afford to DoorDash yourself Chipotle tonight.

(Source: CoinDesk) 

But again, this is crypto and there’s a reason I don’t mess with it. Because just when you think you’ve figured it out, it pulls a fast one on you. Sure, Bitcoin’s on a rocket ship to $100K, but we all know how this story goes. There’s bound to be a pullback, some liquidations, and a whole lot of tears. Just remember, it’s all fun and games until someone loses their shirt… or their house.

Meaning, in the meantime, enjoy the show if you’re on the sidelines, and buckle up if you’re in the game. Just please don’t be dumb, friends. Place your bets accordingly, and as always stay safe and stay frosty! Until next time… 

PS: Our official "Monday Madness" trade alert spiked 27% yesterday, and from what our system’s showing, this stock’s tiny float could SQUEEZE harder than fresh lemonade this morning at the market open. If you're tired of all the FOMO, click here to join Stocks.News Premium and unlock the ticker, plus get 2-3 trade alerts every week.

Stocks.News does not hold positions in companies mentioned in the article.