Bitcoin is just 17% away from hitting a record $100,000

 

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Bitcoin has hit a new record high of $85,000, with the possibility of hitting six figures before 2025. Accordingly, Bitcoin prices surged after Donald Trump won the 2024 US election, marking his second presidential term.

Trump’s Victory Could Send Bitcoin to $100,000 Before Year’s End — Analyst

Trump's victory has fueled optimism among investors, driving up demand for Bitcoin, with its value potentially surpassing $100,000 before the end of the year.

Ryan Lee , an analyst at Bitget Research, said signs such as volatility in the derivatives market and stablecoin market capitalization reaching a high ($160 billion) indicate the possibility of Bitcoin hitting $100,000 in the next three months.

Trump's new term and Republican control of the Senate are seen as positive for cryptocurrencies, promising clear regulations that will spur blockchain innovation.

Coinbase CEO Brian Armstrong expects this to be “the most pro-crypto Congress yet .” Andrey Lazutkin from Tangem Wallet also believes that the Senate will prioritize friendly policies, creating a favorable environment for crypto companies in the US.

Meanwhile, inflows from  U.S. Bitcoin exchange-traded funds (ETFs) also contributed to the rise in Bitcoin prices. BlackRock’s Bitcoin ETF  saw $1 billion worth of trading volume in the first minutes of post-election trading.

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