As Trump’s team deliberates on this role, the crypto industry is actively lobbying to ensure that whoever assumes this position has direct access to the President-elect. Notably, Trump is now regarded as one of the strongest supporters of crypto, despite his previous skepticism about this asset class.
“While I’m not certain things will go smoothly as we approach the $100,000 mark, the demand seems endless,” said Tony Sycamore, Market Analyst at IG Australia Pty.
Bitcoin’s upward momentum is bolstered by several positive factors. MicroStrategy, the largest publicly-traded Bitcoin holder, has just announced ambitious plans to sell $2.6 billion in convertible senior notes, a nearly 50% increase from its initial plans, to purchase more Bitcoin. Additionally, the introduction of options on Bitcoin ETF products in the US has further boosted investor confidence.
According to data from CoinGecko, the total market capitalization of the crypto market has surged by an impressive $800 billion since Trump’s election victory on November 5. Bitcoin alone rose over 2% in the US on Wednesday and continued its upward trajectory in Asian trading.
Investors are now eyeing the next milestone: $100,000. For Bitcoin proponents who view it as a modern store of value, reaching this six-figure mark would be a compelling response to skeptics who doubt the utility of cryptocurrencies and criticize their association with money laundering.
Trump has pledged to establish a favorable legal framework for digital assets in the US and create a strategic Bitcoin reserve. While the timing and feasibility of these commitments remain uncertain, his shift in perspective on crypto is believed to be influenced by the significant investments made by digital asset companies in his election campaign to advance their industry’s interests.
Vu Hao (According to Bloomberg)
The Future of Bitcoin (Part 2): Uncovering Cycles, Understanding Market Pulse.
In each growth cycle, BTC consistently forms new peaks and troughs, with each trough and peak being higher than the previous cycle. This consistent pattern indicates a strong potential for long-term growth, and there is a high probability that this upward trajectory will continue in the current cycle.
The Race to $100,000: Can Bitcoin’s Bull Run Continue?
According to cryptocurrency investors who spoke with MarketWatch, Bitcoin’s price is likely to reach the $100,000 mark, thanks to its recent surge in the aftermath of Donald Trump’s victory in the US elections. While the future beyond this significant milestone remains uncertain, the digital currency has seen a boost, with investors attributing it to Trump’s win.
The Future of Bitcoin (Part 1): Is the “Crypto Age” Upon Us?
The 2024 US Presidential Election results are in, and the Bitcoin fever is back with a bang. In less than a month, the cryptocurrency witnessed an astronomical rise of approximately 40% in value, breaking all previous records and soaring to new heights.
The Euro Could Pare to USD Parity Due to Trump’s Policies
“The Euro bore the brunt of the damage after Trump’s election victory, and we don’t see this trend abating anytime soon.”
The Government Proposes to Legalize Digital Assets to Curb Risks
On November 23rd, the government presented the draft Law on Digital Technology Industry to the National Assembly, as part of its ongoing 8th session.
