At the time of this writing, the price of Bitcoin (BTC) is less than 3% away from reaching the long-awaited $100,000 mark.
It could be a matter of hours (or less, perhaps?) for the price of the digital currency to touch or exceed that figure.
Bitcoin price in the last 12 months. Source: CoinMarketCap.
The Donald Trump’s victory In the US presidential elections on November 5, they gave bitcoin the push that has led it to surpass historical highs since then.
Let us remember that the president-elect has promised to create a strategic national reserve in bitcoin and promote regulations that favor the Cryptocurrency Mining industry.
Furthermore, the recent approval of options The bitcoin ETF broadened the appeal of the digital currency, especially for institutional and corporate investors.
And after $100,000, what comes next? bitcoin? In general, The market expects the ‘bull run’ to continue in the remainder of 2024 and, at least, the first half of 2025.
Bernstein analysts, for example, claim that BTC will reach $200,000 next year.
The trader Iván Paz Chainconsulted by CriptoNoticias, assured that he projects bitcoin at $140,000 in 2025. In any case, he assures that this is not a static and immutable prediction, but rather that it must be constantly adjusted according to what on-chain data shows.
In addition, For those who want to take profits in this bullish cycle, it may be useful to think about an exit strategybecause everything that goes up must come down and it is most likely that at some point the rise of BTC will end and a new crypto winter will begin. For this, the guide written by journalist Martín Arrúa may be useful, «4 strategies to know when to sell bitcoin«.
Finally, it is important to clarify that reaching figures such as $140,000 or $200,000 (if it occurs) will not be in a straight line. Bitcoin is likely to have numerous bearish corrections. In fact, right now the RSI indicator shows that the digital currency is at overbought levels, which amplifies the probability of a correction.
Crypto Keynote USA
For the Latest Crypto News, Follow ©KeynoteUSA on Twitter Or Google News.
