Bitcoin price surges to nearly $90,000 as analysts cite multiple factors beyond Trump's election win

Bitcoin's price recently surged, reaching nearly $90,000 on November 11, up from just under $70,000 on November 5. While Donald Trump's election win is a factor, analysts suggest other elements are at play. Trump's support for cryptocurrency has shifted since 2021, when he called for regulation. His recent positive remarks and campaign crypto donations have contributed to the price increase, alongside backing from figures like Elon Musk. Another key factor is the recent "halving," which reduces the number of new bitcoins generated. This event typically leads to price spikes, as seen in previous cycles. The next halving is expected to occur in 2028.