Trump's Victory Ignites Bitcoin Surge, Aiming for $100,000
Trump's Victory Ignites Bitcoin Surge, Aiming for $100,000Bitcoin has reached a new all-time high, breaking through $81,000 per coin, with a staggering 5.99% surge
Trump's Victory Ignites Bitcoin Surge, Aiming for $100,000
Bitcoin has reached a new all-time high, breaking through $81,000 per coin, with a staggering 5.99% surge. The driving force behind this rally might just be Trump's election victory.
Trump has repeatedly expressed positive views about cryptocurrencies. He believes Bitcoin's innovative spirit and autonomy align with America's core values and plans to support cryptocurrency through policy, positioning the US as the global leader in Bitcoin and blockchain technology.
Multiple analysts predict that Trump's policies will propel Bitcoin prices even higher. Geoff Kendrick, Global Head of Digital Asset Research at Standard Chartered Bank, forecasts Bitcoin to reach $125,000 per coin by the end of this year and $200,000 by the end of 2025.
Kendrick believes Trump may overturn Biden's veto of SAB121, a guideline that prohibited investment banks from providing cryptocurrency custody services. This would open the door for greater institutional capital inflow into Bitcoin. Nick Philpott, co-founder of digital asset brokerage ZodiaMarkets, also believes Trump's victory will push Bitcoin to $100,000 in the early first quarter of next year.
Beyond policy support, market expectations provide strong support for Bitcoin. Standard Chartered Bank found investors are interested in the price around $80,000, indicating Bitcoin will reach that level within the next week or two. Meanwhile, a substantial amount of call options with strike prices between $80,000 and $100,000 will further fuel Bitcoin's upward momentum.
Despite Bitcoin's continuous upward trajectory, it's essential to acknowledge the risks. Coinglass data reveals that in the past 24 hours, virtual currency liquidations totaled a whopping $690 million, affecting nearly 220,000 users.
Bitcoin's future direction remains unpredictable, urging investors to tread cautiously and avoid blindly chasing the rally.
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