Despite its volatility and limited use for everyday purchases—like buying a coffee—bitcoin (BTC-USD) continues to captivate both skeptics and believers. Over the years, its dramatic rallies have
often been dismissed as speculative bubbles. However, since Donald Trump's election victory, even some doubters are starting to view the cryptocurrency as a serious investment opportunity.
This week, bitcoin has been the focal point of the crypto world, surging to an all-time high of $93,500 (£73,785) on Wednesday. At the time of writing, the cryptocurrency was trading at $91,000—a staggering 34% increase since Trump’s electoral win.
Some analysts are hailing this rally as a "big bang" moment for bitcoin, one that even staunch skeptics can't ignore, according to The Financial Times.
Trump’s Changing Stance on Bitcoin
Interestingly, Donald Trump himself has undergone a significant shift in his views on cryptocurrency. Once a vocal critic, he suggested during his presidency that crypto would likely require regulation as its popularity grew. Now, those days are behind him. Trump has fully embraced bitcoin, launching a much-publicized, though short-lived, crypto platform and even appearing at the Bitcoin2024 conference in Nashville.
Bitcoin’s Meteoric Rise Fuels $100,000 Predictions
With bitcoin’s rapid surge, analysts are buzzing about the possibility of it hitting the $100,000 mark before Christmas. Such predictions have ignited debate, and we turned to our readers to gauge their sentiments.
In a recent poll conducted by Yahoo Finance, 893 readers shared their views on whether bitcoin will reach $100,000 by the holiday season. The results? A decisive 69% believe it will, while 23% think it won’t, and 8% remain undecided.
What’s Next for Bitcoin?
Regardless of whether bitcoin crosses the $100,000 threshold, it’s clear the cryptocurrency’s buzz isn’t fading anytime soon. If you’re considering investing but are unsure whether now is the right time, it’s essential to weigh the risks and benefits carefully.
As bitcoin continues its rollercoaster ride, one thing is certain: the crypto world is watching closely, and the speculation isn’t slowing down. Photo by Isokivi, Wikimedia commons.
