Bitcoin price: "Dizzying" increase and decrease
Early this morning (November 3), Bitcoin - the world's largest cryptocurrency by market value witnessed a slight increase of 0.79%, to 110,889.88 USD.
This new price contributes to bringing market capitalization to 2,211 billion USD, up 14 billion USD. However, trading volume in the 24 hours decreased to 30.29 billion USD, down 5.32 billion USD.
Assessment and forecast
The global cryptocurrency market has now reached 3.7 trillion USD as institutional and individual investors continue to pour capital into digital assets. Since President Donald Trump took office in January, legal barriers in the US have been loosened, helping Bitcoin set a new historical peak.
The momentum in US cryptocurrency laws and ETF filings continues to support long-term optimism for Bitcoin. Amid the interaction of macroeconomic factors and capital from institutions, Bitcoin is fluctuating around $110,000, with its price fluctuations significantly affected by policies and capital flows.
brokerage Morningstar commented: "While having a clear legal framework for cryptocurrencies and stablecoin is a favorable factor, it will also increase competition."
At the same time, the company also believes that the high fees of electronic trading floors will soon be under pressure to decrease.
In a meeting after announcing business results, CEO Brian Armstrong said that a clearer legal environment in the US and globally is helping to boost the growth of the cryptocurrency industry, but at the same time attracting more new partners.
