Bitcoin Fly To Sky! Surpass $90,000
1min read Bitcoin has hit a new all-time high, surging above $90,000 and edging closer to the highly anticipated $100,000 mark. The cryptocurrency's climb is widely attributed to President-elect Donald Trump's favorable stance on the industry, with promises of supportive regulations.
Investors are already betting on Bitcoin reaching six figures soon. On Kalshi, a prediction market platform, 60% of users are wagering that Bitcoin could hit $100,000 by January, and 45% believe it could even happen by November.
Experts see further upside potential for Bitcoin. Co-Pierre Georg, Director of the Blockchain Center at the Frankfurt School of Finance and Management, credits the surge mainly to structural factors amplified by the U.S. election. Georg explained that the U.S. regulators' approval of Bitcoin ETFs in January made it easier for investors to gain exposure to Bitcoin's price movements without needing to own the asset directly.
Since regulatory approval, a wave of institutional capital has flowed into these ETFs, with major players like BlackRock fueling the rally. In contrast, direct Bitcoin purchases through exchanges such as Coinbase, Bitpanda, or Kraken have remained steady.
Market sentiment remains strongly positive, with further gains expected. "We anticipate Bitcoin could reach the six-figure mark by year-end," said Mike Colonnese, an analyst at H.C. Wainwright. After breaking its all-time high following Trump's election win last Wednesday, Bitcoin is now in full price discovery mode.