Bitcoin above $80,000 for the first time and expected to reach $100,000

Bitcoin rose above $80,000 for the first time, boosted by President-elect Donald Trump‘s embrace of the digital asset and the prospect of a conference with pro-crypto lawmakers. According to a report today by Bloomberg, it rose Cryptocurrency As much as 4.7% to an unprecedented level of $80,092 in Sunday trading.

During his election campaign, Trump promised to put the United States at the center of the digital asset industry, including the creation of a strategic reserve of Bitcoin and the appointment of regulators interested in digital assets. And he went out Trump From Tuesday’s elections in a stronger position than expected, as his Republican Party controls the Senate and the House of Representatives.

“As the dust of Trump’s victory continues to settle, it was only a matter of time before some kind of wave occurred with the idea that Trump is pro-crypto,” said Lu Shi, Hong Kong’s managing director at market maker Auros, to Bloomberg What we see now.”

Bitcoin has added about 91% so far in 2024, supported by strong demand for the special currency for US exchange trading and interest rate cuts by the Federal Reserve. The increase in the largest digital symbol, which set new records after the American vote, is higher than the return on investments such as stocks and gold.

There is general optimism among investment banks about the future price of Bitcoin after Trump’s election victory. Bitcoin is expected to stabilize at its current price and exceed $100,000. But despite these optimistic forecasts, there are still warnings regarding regulatory challenges and market volatility.

Bitcoin price

UBS analysts took a more cautious approach in a Sunday report on cryptocurrencies, but acknowledged the potential growth in Bitcoin’s value as a result of Trump’s election victory. They emphasized that while prices are likely to rise due to investor sentiment and policy changes, they also warned of the inherent risks associated with cryptocurrency investments.

Their expectations estimated that the price of Bitcoin would be stable at $ 75,000 until early next year, 2025. For its part, Wells Fargo Bank said that Trump’s victory would have a positive effect on the market. The bank predicted an optimistic scenario, where Bitcoin could remain at $80,000 until next year if Trump succeeds in implementing the policies they propose without much opposition from regulators or Congress.