Bitcoin (BTC) could continue its upward trajectory before Donald Trump’s inauguration on January 20, 2025, potentially reaching a new all-time high.
Following Trump’s victory, Bitcoin surged past $76,000, fueled by expectations of a crypto-friendly environment under his administration.
Several analysts predict Bitcoin could hit $100,000 by January, supported by a report from Copper, which ties the potential rise to trends in Bitcoin ETF accumulation. The report suggests that $100,000 is achievable with ETFs holding around 1.1 million BTC.
Trump’s promises to reform regulatory bodies like the SEC, including firing current chair Gary Gensler, have further sparked optimism in the crypto community. Additionally, figures like Senator Cynthia Lummis believe the administration will follow through on plans to build a Bitcoin reserve with the $15 billion already held by the government.
Bitcoin’s recent bullish breakout, after a consolidation phase, points toward a target of $90,000 to $100,000, with some forecasting a rise to $200,000 in 2025. However, concerns about a FOMO-driven rally linger, as the post-election surge may not be sustainable long-term.
JPMorgan analysts are raising doubts about Bitcoin’s role as “digital gold” as demand for traditional gold continues to strengthen.
Cryptocurrency analyst Ali Martinez has raised concerns about Ethereum’s future performance against Bitcoin, suggesting a significant decline could be on the horizon.
The U.S. Bitcoin mining sector is gearing up for potential challenges after President Donald Trump announced new tariffs, set to take effect on April 5.
The cryptocurrency market faced a sharp decline after President Donald Trump announced new tariffs, triggering a sell-off that wiped out around $509 million in value.