Bitcoin has entered price discovery again. How much more will it rise?

bitcoin It’s underway once again.

By the time the traditional market opened on Monday morning, the value of the largest digital coin had soared. By noon New York time, the record had already been broken.

now, price of bitcoin According to CoinGecko, it has already surpassed $88,000 per coin after a 10% rise in the last 24 hours. The asset soared by 30% in 7 days.

some analysts said. decryption With the election and the resulting Trump trade hype, there’s still a long way to go.

James Butterfill, head of research at CoinShares, argues that a combination of positive political momentum, social media hype, continued interest rate cuts, and the prospect of Bitcoin becoming a strategic reserve asset for the U.S. could push prices higher. “He said. said.

He added that it is highly unlikely that Bitcoin will reach $100,000 anytime soon. That’s because such a target reflects only 10% of gold’s market share.

President-elect Donald Trump succeeded. score A shocking victory in the fierce race against Democratic Vice President Kamala Harris for the White House. He showed interest in Silicon Valley, including the cryptocurrency industry, during his campaign. promise to help Make America the “Crypto Capital of the Earth.”

This has made him a favorite of those who have long been interested in the future prices of digital assets.

“Part of this comes down to a more favorable regulatory environment for the industry going forward,” said Greg Magadini, director of derivatives at Amberdata. decryption—Especially for Trump proverb He will replace current Securities and Exchange Commission (SEC) Chairman Gary Gensler.

Magadini said options traders expect Bitcoin to reach the $90,000 to $100,000 range within the next month.

However, he added, “Once the market gets there, prices could suffer unless sentiment turns more optimistic.”

Meanwhile, Julio Moreno, head of research at CryptoQuant, said: decryption Various valuation indicators indicate that Bitcoin has reached between $95,000 and $104,000 per coin.

However, mainstream financial institutions still believe there is room for this asset to operate. In a report last week, analysts at JP Morgan, the largest U.S. bank, said: said The so-called ‘Trump trade’ could last for the next eight weeks.

Analysts have argued that this is because Trump not only wants to support the technology industry but also wants to tighten tariff policies. Economists have argued that tariffs, which are taxes on imported goods, are likely to lead to increased inflation. And Bitcoin has long been seen as an inflation hedge.

Bernstein analysts said in another report this month that the asset, dubbed “digital gold,” could reach $200,000 by the end of next year, regardless of whether President Trump deals or not.

bulls around

Editor: Andrew Hayward