Thus Bitcoin will hit $100k , was surrounded by the crypto space for past days. As several analysts predict that Bitcoin could reach $100,000 before Donald Trump takes office as the 47th U.S. president on January 20, 2025. This prediction of Bitcoin will hit $100k comes with rising excitement in the digital asset space,
Bitcoin’s recent Rise
Recently, Bitcoin’s price has been rising rapidly. It reached a new all time high of $76,460 reflecting a 9% increase, and is currently trading around $74,888. This has rise captured the attention of analysts, with many predicting that Bitcoin could continue climbing and bitcoin will hit $100k.
(adsbygoogle = window.adsbygoogle || []).push({});One of the main things behind this rise is the increasing interest from investors, who see Bitcoin as a protection against economic uncertainty, particularly with rising inflation and potential policy shifts under the new U.S. administration.
Trump’s potential influence on the crypto market
Donald Trump’s victory in the 2024 election has led many to believe that his presidency could be a turning point for the cryptocurrency industry and Bitcoin will hit $100k before his inauguration on President.
(adsbygoogle = window.adsbygoogle || []).push({});Trump has made several promises related to cryptocurrencies, including plans to create a crypto friendly environment. These promises include setting up a crypto advisory council and establishing favorable regulations for Bitcoin mining. Furthermore, Trump has hinted at building a strategic national Bitcoin reserve and replacing SEC Chairman Gary Gensler, who has been seen as an obstacle by many in the crypto industry.
The role of Bitcoin ETFs
One of the main factors behind the rise in Bitcoin’s price is the growing interest in Bitcoin exchange traded funds (ETFs). ETFs allow investors to gain exposure to Bitcoin without owning the asset directly. According to research from Copper Research, Bitcoin’s price could reach $100,000 due to the increasing inflows into Bitcoin ETFs. In fact, ETFs have seen a net inflow of $621 million, which has helped increase the price of Bitcoin. Copper Research predicts that by the time Trump is inaugurated, U.S. ETFs could hold over 1 million Bitcoins.
As many influencers and industrial investors adopt Bitcoin and made a statement out of Bitcoin by believing its worth. All these made a prediction that Bitcoin will hit $100k in the near future.
Positive market reactions
The market’s reaction to Trump’s victory has been overwhelmingly positive, with Bitcoin’s price hitting new highs. Alongside Bitcoin, other cryptocurrencies like Ether and Solana have also experienced gains. The rally in Bitcoin and other digital assets is partly driven by the expectation that the U.S. government will become more supportive of cryptocurrencies, especially with Trump’s promises to create a more crypto friendly regulatory environment.
(adsbygoogle = window.adsbygoogle || []).push({});Ripple effect on the broader crypto market
The interests surrounding Bitcoin is not just limited to Bitcoin itself. Other cryptocurrencies have also been benefiting from the increased optimism. Ripple’s CEO has publicly called for Trump to keep his promises to the crypto industry, including firing SEC Chair Gary Gensler as he promised in the Bitcoin Conference at Nashville 2024 and providing more regulatory clarity. Meanwhile, Coinbase’s Chief Legal Officer Paul Grewal has urged the President elect to push for a more favorable stance toward digital assets.
A look at Bitcoin’s history during elections
Historically, Bitcoin has performed well during U.S. election years. In previous election years, Bitcoin saw important returns: 87% in 2012, 44% in 2016, and 145% in 2020. This pattern is partly due to Bitcoin’s halving cycles, which reduce the supply of new Bitcoin, as well as shifts in U.S. Federal Reserve policies. With interest rates potentially lowering in the near future, many analysts expect Bitcoin’s price to continue rising.
Bitcoin will hit $100k
With Bitcoin’s recent price movements and the growing interest from institutional investors, the $100,000 mark is looking more achievable. According to Fadi Aboualfa, Head of Research at Copper.co, Bitcoin’s upward trajectory could continue into the new year, supported by strong ETF inflows. Copper.co’s analysis suggests that Bitcoin will hit $100k before Trump’s inauguration, supported by increasing ETF accumulation and institutional investment.
Conclusion: Bitcoin’s future looks promising
As the U.S. moves closer to its next presidential inauguration, Bitcoin’s price is expected to continue climbing. Analysts are increasingly confident that Bitcoin will hit $100k by January 2025, supported by factors like ETF demand, a potential shift in U.S. regulatory policy, and growing investor confidence.
(adsbygoogle = window.adsbygoogle || []).push({});While there is still uncertainty about how Trump’s promises will play out, the current market trends suggest that Bitcoin’s upward momentum will likely continue, making it an exciting time for both new and experienced crypto investors.
