Bitcoin edged higher towards $100,000 on Thursday, as a rising number of traders bet that Trump would endorse more supportive policies on digital currency. The cryptocurrency hit $98k during the European trading session, which is one of the most astonishing moments in its wild recovery. At this price, roughly $96,779, the coin had a rise of 2.4% in price in the course of the day.
Bitcoin's Surge Toward $100,000 Signals Mainstream Acceptance
More so, the most surprising cry this year is Bitcoin which has risen more than double its initial values. This price increase has been achieved during a changing political environment particularly after Trump’s victory and entry of legislators who support cryptos into parliament. This rise in its value also reflects the rate at which the entire digital asset is penetrating the market of investors.
There has been much debate following the new surge in the prices of Bitcoin regarding the currency becoming more legitimate in the international market. Advocates say it is now becoming more accepted within the landscape of institutional investment and among lawmakers as well. The price in bitcoin is no longer a speculative bubble but represents a shift in the market.
The cryptocurrency’s gains of the past few weeks are also indicative that the community acknowledges it as a safe haven asset, more so during politically unstable environment. It could easily be argued that the probability of Bitcoin hitting $100,000 by year end has never been more realistic, courtesy of developing signs that regulatory concerns are increasingly becoming a thing of the past.
KuCoin managing director – Alicia Kao particularly underlined the Bitcoin’s potential stating that early investment in BTC “is a win-win situation.” Although, the Bitcoin and any form of cryptocurrency was not welcomed without controversies and/or legal restraints it is easy to show that even though many doubted this form of technology the creators and the early investors knew better that the future was right ahead of them all.
Trump’s Crypto Vision Fuels Bitcoin’s Surge to New Heights
President Trump during his campaign was supportive of Digital asset, he expressed his desire to make United States as the cyber.currency capital of the world and even encouraged the establishment of a national bitcoin reserve. This vision has accelerated more so when Bitcoin bounced back from lows of $16,000 in late 2022 to new peaks in 2024. Nevertheless, Trump’s approach to the crypto industry has bolstered investment confidence in the niche.
One of the major propellers driving the revival of Bitcoin prices has been the emergence of the United States listed Bitcoin ETFs in the year beginning January. Following SEC rejection based on issues to do with investor protection, the admission of ETFs has created space for more investors especially the institutional players get easier entry into the Bitcoin market. This change has been monumental in the regulation of Bitcoin helping the currency to get a boost.
The accumulation has been huge and within one week of the election more than $4 billion were invested in US listed bitcoin ETFs. Interest in crypto was boosted by the advent of options for trading in BlackRock’s Bitcoin ETF which saw investors placing their bets on higher prices. This rise in activity shows that people are regaining confidence in the crypto market, especially adding that more financial instruments help to familiarize people with Bitcoin.
Following the Bitcoin price increase, shares that are linked to cryptocurrencies are also up. Companies involved in mining for digital currency also stand to gain since such firms as MARA Holdings’ stock value has benefited from the market bounce. Just like for Bitcoin, prices are also rising high, these companies deem a high demand for mining operation to occur thus pushing up their stocks.
John LaForge, who is the head of real asset strategy at Wells Fargo pointed out the impact of new highs in this regard. ”When you move up to new high ground you are likely to draw a lot of new money,” he said. This observation can be especially relevant to the example with Bitcoin, which attracts new investments as it is closing in on new prices, and is now being considered as a serious participant in the mainstream financial market.
Bitcoin's Rise Mirrors Gold Rush, But Challenges Persist
This is because as the Bitcoin moves from the phase of Adoption to Acceptance the cryptocurrency enters what is known as a ‘price discovery’ phase; abetted by the recent increase in value akin to the 1970’s gold rush phase. Organized investors are still unsure of how high it could possibly go although some of them are advising that the cryptocurrency will keep rising. Bitcoin continues creating new highs in terms of prices, to many people, it has been seen to act like an investment asset like gold, but its future is uncertain.
A company most associated with Bitcoin is MicroStrategy – a software company that bought substantial amounts of Bitcoins despite its losses. They are the market with market capitalization above $100bn now, and the company’s share price has risen more than double since the election of 2024. Its chief executive officer, Michael Saylor, promotes Bitcoin and has aligned the company within the emergent sector of cryptocurrencies together with Elon Musk.
But the possibility of further legislation on cryptocurrencies is still vague. Will Peck, former director of digital assets with WisdomTree stated that although one can only expect that the regulation of the industry would be less complicated in the current administration, it remains vague on how the regulation will unfurl itself. One of the recurring messages that remains popular with the crypto community is the idea of more structured rules, which is expected to be provided by the regulators.
The boost given to the ‘:block chain’ by Bitcoin and the other members of the crypto family is being considered as positive for the technology overall. As the market for crypto currencies grows, other applications of the blockchain including DeFi and NFTs are experiencing the advantages of this rising market. The constantly expanding range of services indicates that digital currencies are gradually becoming more firmly entrenched in the global economy.
However, there may be a lot of barriers that are as follows; The recent failure of the FTX exchange two years ago set back this industry and the debate regarding the energy consumption by Bitcoins. Also, there is still crime connected to cryptos since the illicit flow of billions of dollars to terrorism and fraudsters. These challenges bare testimony that there is need to endeavor and regulate the burgeoning crypto markets.
