Bitcoin Seizes $100,000. What's Your Prediction for Next Move?

6 ธ.ค.

And there you have it — a comet in the night sky, Bitcoin BTCUSD finally shattered the landmark $100,000 figure. Prices of the original cryptocurrency are up 50% since Election Day on November 5 and traders have one man to thank. Do you think he doesn’t know it?

“CONGRATULATIONS BITCOINERS!!! $100,000!!! YOU’RE WELCOME!!! Together, we will Make America Great Again!” Donald Trump erupted on his social-media platform, Truth Social.

As crypto circles around the world celebrated the mind-blowing milestone (that’s a market cap of more than $2 trillion in a $3.5 trillion market), the volatile crypto couldn’t get any rest. Bitcoin prices seesawed back under $100,000 early Friday with traders experiencing the token’s wild swings and notorious stomach-churning volatility.

In wild seesaw motions, the OG crypto yesterday peaked at an all-time high of $103,700 a piece before sliding more than 6% to close the session at a 1.6% daily loss at $96,900 a pop. In other words, crypto traders still need that convincing close above six figures.

Donald Trump might just have the answer. The President-elect is keeping busy by forming an A-team of crypto advocates to lead the efforts at the White House. Earlier this week, Trump selected former SEC commissioner Paul Atkins to replace current SEC Chair Gary Gensler. This is one of the key drivers to yesterday’s rally in the broad crypto markets. Because Atkins isn’t just a crypto-friendly former regulator.

He’s been advising crypto companies since 2017 and he’s the co-chair of Token Alliance, a subsidiary of Digital Chamber, which was spun up to promote digital assets. Atkins has been consulting crypto companies on how to work with the Securities and Exchange Commission, avoid penalties and lawsuits. And now he might be taking the top job at America’s financial watchdog.

It doesn’t end there. A new pick today promises even more growth for the crypto industry in the US.

Trump has tapped venture investor and podcast host David Sacks to be the “White House AI & Crypto Czar.” In a post on his social media, Trump wrote that “David will focus on making America the clear global leader in both areas.” “He will safeguard Free Speech online, and steer us away from Big Tech bias and censorship.”

Sacks was a major Trump supporter earlier this year. He invited Trump to join him and his podcast peers and fellow investors Chamath Palihapitiya, Jason Calacanis, and David Friedberg for a talk on his All-In podcast, which Trump has called the “top podcast in Tech.”

With the stars seemingly aligning for the crypto industry heading into 2025, many digital asset proponents are now calling for $100,000 to be the bottom. A new, loftier goal is now in sight by end of year: $125,000. In 2025, the forecasters among us project Bitcoin prices of about $250,000, or a 150% increase from current levels.

📡 What’s your forecast? Do you think we’ll see prices top $125,000 still this year? And $250,000 next year? Share your thoughts below!