- Bitcoin hits record high of over $106,000
- The cryptocurrency has gained more than 50% since Trump’s victory
- Analysts predict Bitcoin’s rally could push prices to $120,000 by year’s end
- Further growth expected in 2025
Bitcoin hits record high of over $106,000 amid pro-crypto Trump policies
Bitcoin soared to an all-time high, briefly surpassing $106,000, fueled by optimism over Donald Trump’s pro-cryptocurrency stance ahead of his return to the White House. The cryptocurrency has gained more than 50% since Trump’s election victory on November 5.
Analysts predict Bitcoin’s rally could push prices to $120,000 by year’s end, with further growth anticipated in 2025. “The fear of missing out (FOMO) is driving this parabolic surge,” said Peter McGuire of XM.com.
Trump has signalled strong support for digital currencies, proposing a national Bitcoin stockpile similar to the strategic oil reserve. He has also named crypto advocate Paul Atkins to lead the SEC, replacing outgoing chair Gary Gensler.
With Silicon Valley entrepreneur David Sacks as Trump’s AI and cryptocurrency chief, the market sees a favourable shift in U.S. crypto policy.
Stay tuned for updates on this historic Bitcoin rally and its implications for the future of digital assets.
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