Bitcoin hit $95,000: heading to $100k target price

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As a seasoned researcher with a decade-long career in finance and technology, I must admit that the Bitcoin price surge to an all-time high of $95,672 is nothing short of astonishing. Having closely followed the crypto market since its inception, I’ve seen my fair share of volatility, but this growth trajectory is truly remarkable.

On Wednesday, Bitcoin, the most significant digital currency globally, reached an unprecedented peak of $95,672 following a 3.55% increase in value over the previous day.

For the first time ever, on November 20th, Bitcoin hit an all-time high of $95,000; its next goal is $100,000. In just one month, its price skyrocketed by 42%, having been at $67,400 previously. Over the past year, it has increased more than triple digits, reaching a 154% growth rate.

The U.S. election continues to significantly influence cryptocurrency market trends, much like it did when Donald Trump was elected and presented a forward-thinking regulatory approach for digital assets. He also named individuals who are favorable towards crypto among his potential appointees, such as Elon Musk and Robert F. Kennedy Jr.

Bitcoin ETF trading options also boost crypto prices due to the high level of market interest in the crypto-related product. On Tuesday, BlackRock’s iShares Bitcoin Trust (IBIT) hit notional exposure of up to $1.9 billion.

On November 21st, an additional trading option will become available that includes Bitwise (BITB), Grayscale (GBTC), and a smaller-sized trust version of Bitcoin (BTC).

Bitcoin price $100k is on the market eye

In a recent interview with CNBC on November 14th, Michael Saylor, MicroStrategy’s executive chairman, expressed his intentions to prepare for a New Year’s Eve celebration as he anticipates the Bitcoin price reaching $100,000 before the year ends.

According to Saylor, he believes the situation will improve and is preparing for a grand celebration worth $100,000. He’s considering hosting this event on New Year’s Eve at his home, suggesting that it might not be surprising if they spend all $100,000 by November or December.

Going beyond their initial prediction of $100,000, Bernstein Research now aims even higher with a bullish target price of approximately $200,000 by 2025. This revised projection is attributed to a significant increase in institutional interest across various regions.

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2024-11-21 07:16