Bitcoin, the world’s largest cryptocurrency, is getting closer to reaching $100,000, thanks to President-elect Donald Trump’s support for digital currencies and his plans to create clearer regulations for cryptocurrencies. As of Tuesday morning, Bitcoin’s price was around $87,880, showing a 30% increase since the US election. Experts believe Bitcoin could hit $100,000 by January 2025, once Trump takes office.
Rising Bitcoin Prices and Positive Predictions
Nigel Green, CEO of deVere Group, predicts that Bitcoin’s price will keep climbing in the coming months. Bitcoin has already risen by 93% this year, and Green believes this is just the beginning. “We expect Bitcoin to reach new heights under the Trump administration. His crypto-friendly policies will be a turning point for Bitcoin and the digital asset market,” Green said.
Trump’s Policies to Boost Bitcoin
The upcoming changes in cryptocurrency regulations under Trump’s administration are expected to push Bitcoin’s growth even further. Green pointed out that Trump’s plan to recognize Bitcoin as a strategic asset is a strong endorsement for the cryptocurrency. “This is the most significant boost for Bitcoin since its creation,” he added.
Additionally, with inflation concerns growing and possible changes in economic policies, Bitcoin is becoming more popular as a way to protect against the loss of value in traditional currencies. “Bitcoin is increasingly seen as a way to safeguard purchasing power,” Green explained.
Inflation Concerns and Bitcoin’s Role
While inflation has decreased due to recent global rate cuts, Trump’s spending plans and potential tariffs could lead to higher prices again. This situation is making many investors see Bitcoin as a safer investment.
Raj Karkara, COO of ZebPay, believes Bitcoin will continue to rise. “Bitcoin’s resilience is showing, and it’s becoming more appealing to investors,” he said. As more people invest in Bitcoin, Karkara expects the price to keep climbing.
Clearer Regulations Boosting Confidence
Vishal Sacheendran, Head of Regional Markets at Binance, believes that clearer regulations and a more supportive approach to crypto will increase investor confidence. This will lead to more innovation and wider adoption of digital assets. “Investors should be cautious, do their research, and not base decisions on market hype,” Sacheendran advised.
Conclusion: Bitcoin’s Growth Expected to Continue
With more investors showing interest in Bitcoin and Trump’s policies likely to favor cryptocurrency, Bitcoin is set for continued growth. As Bitcoin becomes a more recognized asset and a way to protect against inflation, it is increasingly seen as an important player in the financial world.
