Bitcoin (BTC) achieved a historic milestone today as it managed to reach $109,114, its all-time high. With this surge, Bitcoin’s market cap has reached $2.14 trillion and the trading volume has also seen a significant increase. The main reason for this rally is the rising expectations regarding cryptocurrencies under the administration of Donald Trump, after the presidential elections in the US. This increase of Bitcoin is a sign of rapidly rising expectations in the global markets and has become the main reason for enthusiasm among crypto investors.
What are the reasons for this rise in Bitcoin Worth, know
This increase in the price of Bitcoin is mainly linked to Donald Trump’s hopes of becoming the 47th President of America. Trump repeatedly declared his support for cryptocurrencies during his election campaign, discussing the possibility of creating a strategic national reserve for Bitcoin. The official tenure of the Trump government in the US can not only prove to be a big victory for Bitcoin, but through this the US government can recognize Bitcoin and other digital assets as its financial resources in a prosperous and secure manner.
There is a positive environment in the market before the swearing-in of the new US government, due to which along with Bitcoin, the prices of other Altcoins and Memecoins also witnessed an increase.
What is the next target for Bitcoin?
Bitcoin has crossed the $100,000 milestone several times in the past few months, but its price has also seen volatility due to the lack of a strong support. Today’s rise has taken it to a new height. However, it remains to be seen whether Bitcoin will be able to sustain this bull run or not. Given the new incentives brought by the Trump administration and the positive attitude towards crypto, Bitcoin and other cryptocurrency A stable and positive environment can be created for. With which it is expected that soon BTC will achieve its next target of $150,000.
Conclusion
The rise in the price of Bitcoin is due to the swearing in of Donald Trump and the increasing support towards the cryptocurrency. Trump’s strategies and the crypto friendly laws suggested by him can bring a positive change for Bitcoin at the global level, which can see even more growth in the future. BTC has made a new record of $109,114 and now the next target for it is to move towards $150,000.
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