Bitcoin Surpasses $94,500 to Set New All-Time High

Less than a day after reaching a historic high above $93,900, the price of the leading cryptocurrency confidently surpassed the $94,000 mark.

On Binance, the price momentarily reached $94,585. The weighted average estimate of the new ATH from CoinGecko is $94,617.43.

Most leading altcoins by market capitalization did not react to the flagship’s price movement. Exceptions were Cardano (ADA) and XRP, which gained 14.4% and 4.1% respectively over the day, compared to Bitcoin’s 3.7%.

Recently, Cardano founder Charles Hoskinson and CTO of Ripple David Schwartz exchanged complimentary tweets. Both stated they had a great conversation on technical matters regarding Midnight and XRP.

It was a pleasure talking to you. Midnight sounds extremely interesting.https://t.co/A9aI64bJsU https://t.co/e1b0feRwcJ

— David “JoelKatz” Schwartz (@JoelKatz) November 18, 2024

Schwartz described the Cardano sidechain under development as an “extremely interesting” solution.

This likely marks the end of Hoskinson’s conflict with the XRP community. The dispute arose from a conspiracy theory suggesting the team behind Ethereum incited the SEC to attack Ripple.

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

The upward movement of Bitcoin on November 19 was largely attributed by experts to the start of trading in the US of options on BlackRock’s spot Bitcoin ETF. A similar product from Grayscale is expected to launch today.

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

Earlier, CryptoQuant founder and CEO Ki Young Ju raised the target price forecast for digital gold in the current cycle to $135,000.

Analysts at BCA Research suggested the asset could rise above $200,000, a similar assessment was made by Bernstein.