Bitcoin is still a sensational topic in the crypto industry. Bitcoin reached its all-time price of $106,533 on Monday which makes it the most-valued cryptocurrency in the world. Bitcoin crossed the milestone price of $100K on December 5.
Bitcoin has already up around 8% this month and reported a 50% spike since the US presidential election and Trump’s victory. The sudden price surge could be based on Trump’s latest plan to implement a US Bitcoin strategic reserve.
Bitcoin Hits its All-Time High on Monday!
Bitcoin is going through its golden era, the coin has already shown a 145% price spike this year and is currently the most valued crypto coin in the world. The latest news regarding Bitcoin(BTC) is, that it crossed its all-time high price on Monday with $106,533 This mesmerizing price spike of Bitcoin comes just ten days after it hit the milestone checkpoint of $100K. Bitcoin reached $100K on December 5 and it was one of the hot topics in the entire world. Donald Trump and his pro-crypto attitude are the price reasons for this unprecedented price spike in the history of cryptocurrencies. Other cryptocurrencies like Ethereum, Litecoin, and Dash have also shown a price spike in the market.
The latest plan of Donald Trump to create a national stockpile of digital currencies like Bitcoin, and Ethereum similar to the country’s oil reserve strategy is the reason behind this unexpected price surge of Bitcoin and led to its all-time high price on Monday. According to the latest information, the price of Bitcoin will most likely increase in the upcoming days since the Federal Reserve’s two-day policy meeting is set to conclude on Wednesday. A potential interest cut and rate reduction are the expected outputs of the meeting, this can enhance the price value of BTC even further.
According to the recorded data of Coinmarketcap’s official website, the price of $106,533 was recorded at 6:10 am on December 16. The coin is valued at $105,097.46 at the time of writing. The strong dominance of BTC still rules the entire crypto market.
Post-Presidential Election Bitcoin: The Rise of New Dawn
The fate of Bitcoin(BTC) has changed ever since the result of the US presidential election was released. The coin underwent a major price spike in its history and now become the most precious and highly rated cryptocurrency in the world. The pro-crypto attitude of Donald Trump and his novel approaches and strategic plans related to crypto is the sole reason for this unparalleled price elevation of every crypto coin including BTC.
The latest response from Donald Trump shows how closely he is embracing the crypto arena in American democracy. Trump said that they were going to do something great with crypto because they didn’t want China or anybody else, not just China but others, to embrace it, and they wanted to be at the forefront.
The latest statistics indicate that the price of Bitcoin has spiked over 50% since the presidential election result was announced in November. The project is in its golden ages and the experts from the field believe that this bullish momentum of Bitcoin will most likely continue in the following years. Bitcoin has now earned more than a 14% price spike over the month. The recorded price spike percentage of BTC in the last 12 months is 147%. The statistics show how staggeringly Bitcoin is performing.
Tony Sycamore, an analyst at IG responded that they were in blue sky territory there and that the next figure the market would be looking for was $110,000. He explained that the pullback that a lot of people had been waiting for just hadn’t happened because now they had that news.
Also Read: Crypto Bear Trap: A Psychological Trap, What Is It And How To Avoid It
What to Expect from Bitcoin in the Future?
The future of Bitcoin will be ideal and the traders with investment in Bitcoin can reap a huge amount of profit from it. The value of BTC is increasing day by day and shows us a promising and enduring future.
Peter McGuire from trading platform XM.com said that the Bitcoin rally since the election had been parabolic and that the FOMO, or fear of missing out, rally was gathering momentum. He added that many investors believed $ 120,000 would be achievable by the end of the year and that there was talk of it exceeding $150,000 by mid-year in 2025.
All the experts and responsible persons from the cryptocurrency system believe that Bitcoin will be a massive digital asset in the near future and can redefine the entire cryptocurrency ecosystem. The price will show an advanced hike when Donald Trump officially takes the role of the President of the United States of America. The entire crypto community is eagerly waiting for the future results of Bitcoin and to witness how it will perform in the future.
