CandleFocus

Bitcoin Is in Price Discovery Again—How Much Higher Will It Go?

Author: Content Editor
Bitcoin's price has surged above $88,000 per coin and has seen a 30% increase over the past week. Analysts believe that the price could continue to rise due to positive political momentum, social media hype, interest rate cuts, and the potential for Bitcoin to become a strategic reserve asset in the US. President-elect Donald Trump's victory is seen as positive for the crypto industry, as he promised to make the US the "crypto capital of the planet" and create a more favorable regulatory environment. Options traders are betting on Bitcoin hitting $90,000 to $100,000 in the next month, while different valuation metrics suggest a range of $95,000 to $104,000 per coin. Mainstream financial institutions, such as JP Morgan, believe that the "Trump trade" could continue for another eight weeks, as Trump's tariff policy could lead to inflation, making Bitcoin an attractive hedge. Analysts at Bernstein predict that Bitcoin, also known as "digital gold," could reach $200,000 by the end of next year.

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