Bitcoin has crossed the $100,000 mark again, with Ethereum also experiencing a 4% rise. This rally in cryptocurrency prices has also affected crypto-linked stocks, with Coinbase shares rising 4% and MicroStrategy surging 8%. The Federal Reserve's upcoming December meeting and expectations of another interest rate cut are contributing to the market's optimism. Additionally, the November consumer price index report showed an increase that was in line with forecasts, easing concerns of higher inflation. Some analysts, such as Standard Chartered's Geoff Kendrick, predict that Bitcoin could reach $200,000 by the end of 2025, citing institutional adoption and the potential involvement of U.S. retirement funds as factors. Others, like Bernstein and Fundstrat, also have bullish long-term projections for Bitcoin. However, there are still challenges to overcome, including the need for wider acceptance and stability before Bitcoin can compete with traditional financial systems.
- Content Editor ( cryptopolitan.com )
- 2024-12-11
Bitcoin retakes $100k after US inflation data and Trump’s promise to keep his eye on price