Bitcoin Could Hit $100,000 by January as Trump Takes Office
World's biggest cryptocurrency Bitcoin is moving towards $100,000 as pro-crypto stance and clearer cryptocurrency regulations by President-elect Donald Trump promise.
The price of Bitcoin was trading around $87,880 per piece on Tuesday. Since US election, Bitcoin price has risen approximately about 30 percent.
"Bitcoin could reach $100,000 by end-January 2025 after Donald Trump assumes office", said Nigel Green, founder of deVere Group.
The bullish prediction from Green comes as the cryptocurrency has priced 93% higher year-to-date.
“We expect that this is just the beginning, with the cryptocurrency set to break more records under an incoming Trump administration. President-elect’s crypto-friendly stance signals a transformative moment for Bitcoin and the broader digital asset market,” said Green.
Trump administration has a clear mandate to regulate crypto constructively, and his plan to elevate Bitcoin to a strategic asset class is a powerful endorsement.
“This is the most significant tailwind we’ve seen for Bitcoin since its inception. With inflation concerns on the rise amid looming economic policy shifts, Bitcoin’s role as a hedge against eroding cash value is also gaining traction,” he mentioned.
While inflation pressures have eased with recent rate cuts globally, the Trump administration’s ambitious spending plans and potential tariffs could quickly reignite upward pressure on prices.
This inflationary backdrop is encouraging investors to turn to Bitcoin as a safeguard against diminishing purchasing power, said the deVere Group CEO.
According to Raj Karkara, COO, ZebPay, as more investors turn to Bitcoin, we anticipate this momentum could continue.
“This landmark moment demonstrates Bitcoin’s resilience and reinforces its appeal within the financial markets,” he added.
Vishal Sacheendran, Head of Regional Markets at Binance, said that clearer rules and a friendlier stance towards crypto businesses has the potential to increase investor confidence, encouraging further innovation and mainstream adoption of virtual digital assets.
“It is also important to note that In a bull market like this, investors should also remain mindful, conduct thorough research, and not make investment decisions solely based on market sentiment or hype”, he said.
