Cryptocurrency investors have been reeling with excitement over the last few days, with every notification on their phone showcasing BTC’s new highs. This leading asset began its rally shortly after the announcement of President Donald Trump’s victory. In no time, it reached a new peak of $75,000 and is now nearing the $90,000 mark, which is the biggest surge ever seen in the industry. The relevance of Bitcoin as an asset in the market is quite clear. When it surges, every other coin follows suit, which means now is a crucial decision-making time for investors holding on to their assets in hopes of bigger gains. Will the market continue to run in an upswing? You’ll find answers to this as you read further.
Why Is Bitcoin (BTC) Up Today?
Between 2021 and 2023, the crypto market had one of its worst bear runs. At this time, BTC traded between $17,000–$25,000, which is its biggest downturn ever. The market’s volatility was a major contributing factor alongside others, like regulatory issues, losses from cyber attacks, political uncertainty, and economic challenges. Although this market has been brandished to be purely decentralized and unaffected by traditional systems, economic positioning will always impact investors’ sentiments. As such, it is utterly impossible to separate traditional banking systems and government policies when it comes to digital asset performances, and Bitcoin is becoming no different.
While the coin had some time to perform better in 2023, its current upswing remains the biggest investors have seen since its creation. This unprecedented development is a product of President Trump’s recent victory. This was for no other reason than the ongoing discussions of Donald Trump’s position being a major boom for the crypto community. On Wednesday, 12th of November, 2024, BTC touched $93,000 before piping down around $88,000. The token has increased by about 32% since the election, and enthusiasts are looking out for bigger gains. Not just in the coming days but possibly throughout President Trump’s entire tenure.
Trump openly embraced digital assets during his entire campaign, with promises to make the country the “crypto capital of the world. His interest in cryptocurrencies has also been clear over the years. In October, he launched World Liberty Financial (WLFi), a decentralized finance system managed by him and his sons, Donald Jr, Eric, and Baron. This project aims to help crypto holders earn interest through the various decentralized financial services, which include lending and borrowing. The project is currently buzzing, and one just needs to look at a popular crypto trading platform to witness it. While his words have been positive during his campaign, the action to launch this venture solidified his position as an avid supporter of the Web3 community, bringing more possibilities for mass adoption of DeFi.
Will Bitcoin (BTC) Keep Running?
Considering the regulatory challenges the crypto community has faced in the past years, especially with the Securities and Exchange Commission, having a powerhouse like the United States Presidency is a major win. If this continues, there is a high chance crypto prices will remain at their highest. Bitcoin’s rally still has more room to run, and it will continue to do so if investors’ optimism remains on the high side. The WLFI project attracted over 100,000 U.S. investors ahead of its token presale, bringing in the biggest market makers in the industry. The crypto market rides on momentum, and this present one is likely to continue in time for Trump’s project presale.
From a technical viewpoint, Coincodex predicts a $106,750 touchpoint by December and a $107,794 peak by January 2025. At the same time, Changelly predicts a minimum price pump to $100,674 by December, with over 82% bullish technical overview. Most technical predictions point toward a large possibility for higher gains in the next few months before another calm. However, other platforms like the Binance price prediction suggest possible price retraction or slower movements in the coming year. The rating was collated from over 3584 users on the platform. Their predictions point toward the token remaining at $83,934 in 2025.
Many analysts and enthusiasts tend to be overly excited about possible performances, and some expectations end up being too high. However, overall, there is a high chance BTC will increase to the $100,000 mark by the end of the year. If it doesn’t, it would likely remain within the $80,000 range, which is still a big win, considering it started at a little over $20,000 earlier this year.
The Road Ahead for Crypto Assets
Regardless of what price performance stands ahead for Bitcoin, Trump’s administration is a beacon of huge adoption for the digital asset network as a whole. Enthusiasts can anticipate a better regulatory community, a welcoming atmosphere, and more positive interests in the sector. Other altcoins are also making the most of these pumps, and top gainers like Ethereum, Binance, and Cardano are piquing investors’ interests. Now is the best time to make the most of these assets because the bulls are here to stay.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
