Introduction:

In a word

Bitcoin Reaches $100,000 Despite Hope Regarding Trump‘s Crypto Policies
Since early 2024, its value has doubled, and following the elections, it increased by 45%.
Trump has shown a keen interest in cryptocurrencies by announcing plans to create a national Bitcoin reserve.

Bitcoin Hits $100,000, a Record High

A significant turning point in the history of cryptocurrencies has been reached as Bitcoin(it) reached its all-time high of $100,000. Growing investor optimism about a more crypto-friendly regulatory environment under Donald Trump’s incoming administration—following his recent victory in the U.S. The surge in Bitcoin’s value is being fueled by the ongoing presidential election.

The value of Bitcoin has more than doubled since the beginning of 2024. It has increased by about 45% in the four weeks since Trump won the election. Bitcoin was trading at $100,027 at 0240 GMT on Thursday, up 2.2% from the previous session after briefly hitting $100,277 earlier in the day.

Factors Fueling the Rise of Bitcoin

This incredible rise has been facilitated by a number of significant developments. These consist of:

Elon Musk is in charge of a recently formed government efficiency division.
Dedicated Crypto Policies: The White House is planning to establish a dedicated crypto policy office.

Trump nominated Paul Atkins, a well-known supporter of crypto policy, to be the chair of the SEC.

In the words of Edul Patel, CEO of Mudrex “With Trump’s crypto-friendly agenda and Atkins’ leadership, we are likely to see market-friendly reforms and broader acceptance, paving the way for Bitcoin to potentially hit $120,000 in the coming weeks.”

Trump’s Cryptocurrency Vision

The expectation of major policy changes under the Trump administration is a major factor contributing to this rise. Trump promised throughout his campaign to turn the United States into the “crypto capital of the planet.” In keeping with his significant interest in digital assets both personally and at the policy level, he recently revealed plans for a national Bitcoin reserve.

Industry insiders also anticipate that the new leadership will lessen the stringent oversight that Gary Gensler, the current chair of the SEC, has been subject to. Market mood has also increased as a result of Trump’s plan to name Paul Atkins, a well-known expert on crypto policy, as SEC Chair.

Industry Leaders’ Upbeat Outlook

Experts believe that the crypto business would benefit greatly from this change. “We are seeing a paradigm shift,” Mike Novogratz, CEO of the American cryptocurrency company Galaxy Digital, told Reuters. The mainstream financial acceptance of Bitcoin and the full ecosystem of digital assets is imminent.
The Crypto Industry’s Ripple Effects

Trump’s pro-crypto position has a noticeable impact on the industry. In order to influence U.S. cryptocurrency policy, a number of cryptocurrency companies, such as Circle, Kraken, and Ripple, are competing for seats on Trump’s proposed Crypto Advisory Council.

Trump started a cryptocurrency business in September called World Liberty Financial, but little is known about how it operates. Additionally, reports indicate that the Trump Media and Technology Group is in advanced negotiations to purchase Bakkt, a cryptocurrency trading platform.

Another significant factor in Bitcoin’s rise was the U.S. government’s acceptance of Bitcoin Exchange-Traded Funds (ETFs) early this year. A broader spectrum of investors, including institutions, can now invest in Bitcoin thanks to these ETFs, which the SEC had previously barred due to investor protection concerns. Over $4 billion has been invested in these ETFs since the election.

Wider Effects of the Bitcoin Boom

The rise in Bitcoin has had a significant impact:
MARA Holdings, a Bitcoin mining company, saw its stock value rise by 65% in November.
BlackRock’s Bitcoin ETF has seen robust options trading, with call options—bets on price increases—outpacing puts by a 22 to 1 ratio.

But even as the cryptocurrency community rejoices, others nonetheless voice their worries about the sector’s energy usage and contentious past. Two years ago, the FTX exchange collapsed, and its founder, Sam Bankman-Fried, was imprisoned. This event serves as a clear reminder of the difficulties facing the industry.

Alerts Regarding Market Volatility

Analysts are wary about possible volatility in the market. “Investors may try to cash in on this milestone, which could result in short-term dips,” Canary Capital founder Steven McClurg told Reuters. But after these sell orders are cleared, it might rise much more, even hitting $120,000 by Christmas.

After Republican Donald Trump was elected president of the United States, it crossed the $100,000 mark for the first time on Thursday. There is optimism for the future of the industry since his administration is anticipated to create a regulatory climate that is favorable to cryptocurrencies. it’s value has already more than doubled in 2024, and Trump’s resounding presidential triumph has caused it to rise by 45% in only four weeks. Additionally, MPs who embrace cryptocurrency have been elected to Congress.

The Rise of Bitcoin and Trump’s Pro-Crypto Attitude

Within hours of U.S. President-elect Donald Trump appointing Paul Atkins as the next chairman of the Securities and Exchange Commission (SEC), the most valuable cryptocurrency in the world, it, jumped above $100,000. This action suggests that the crypto business will be subject to less stringent regulations.

Trump stated his intention on Wednesday to appoint Atkins, a former SEC commissioner under President George W. Bush. Atkins has been outspoken in his opposition to overbearing market restrictions since departing the SEC.

Following the announcement of Paul Atkins’ candidacy as SEC Chair, individual investors will be ecstatic to see it hit $100,000, according to Shoki Omori, chief strategist at Mizuho Securities’ Japan desk, who spoke to Reuters. Markets expected Gensler to go so that a less assertive crypto regulator could take over. Naturally, profit-taking will occur, so this does not imply that it will continue to rise indefinitely.

“If Bitcoin keeps increasing rapidly, other significant cryptocurrencies like Ethereum should also see gains,” Omori continued. In comparison to Bitcoin, Ethereum appears to be undervalued at the moment. After a surge, Ripple saw profit-taking at $2.80. The cryptocurrency community is looking for more good headlines to push prices higher as altcoins exhibit volatility. The ‘Trump trade’ boost, however, appears to be diminishing as markets have already taken into account a large portion of the news.

Post-Election Increase in Bitcoin

Since November 5, when Trump won the U.S. election, Bitcoin has seen an unheard-of surge.

The cryptocurrency hit $69,374 on Election Day, but by Wednesday, it had soared to a record high of $101,512. Only two years after Bitcoin fell below $17,000 with the demise of the cryptocurrency exchange FTX, there has been a sharp increase.

For the first time, Bitcoin surpassed $100,000 on December 5. Trump’s pro-crypto policies and remarks by Russian President Vladimir Putin endorsing digital assets served as catalysts for the increase. The market value of digital assets has increased to about $2 trillion as a result of these changes.

Trump’s SEC Nominee Who Supports Crypto

For the crypto business, Trump’s choice to appoint Paul Atkins as SEC head is a welcome change. Atkins, who is renowned for imposing stringent rules on digital assets, will succeed departing SEC Chairman Gary Gensler. In addition to proposing a strategic Bitcoin reserve, Trump has pledged to choose regulators who are more supportive of the sector.

A number of politicians who support cryptocurrency have also entered Congress as a result of Trump’s recent election.

“Paul is recognized as a strong advocate for practical regulation,” Trump stated in a post shared on his Truth Social platform. He thinks that robust, creative capital markets that can adapt to the demands of investors and support the greatest economy in the world hold great promise.

As a longtime supporter of digital assets, Atkins’ nomination has been warmly received by those involved in the financial sector. “Atkins is the ideal choice for SEC Chair,” said Dan Gallagher, Chief Legal Officer at Robinhood Inc.

Atkins argued against company sanctions during his time as SEC commissioner, claiming that they ultimately harmed shareholders. A portion of the Dodd-Frank Act, which was put into effect following the 2008 financial crisis, was also condemned by him.

Putin’s Advocacy for Digital Currency

Some Bitcoin investors attribute the surge to statements made by Russian President Vladimir Putin.During an economic symposium in Moscow, Putin declared, “The use of Bitcoin and other virtual currencies cannot be prohibited by anyone.”

The market for cryptocurrencies has entered a new optimistic phase. Trump’s pro-crypto policies and Putin’s backing of digital assets have caused Bitcoin to soar to its highest level ever—$101,512. Now that the market is expanding, focus is turning to how these advancements will affect the crypto sector going forward.

ETF Investing Is Growing

Bloomberg data indicates that U.S.-based exchange-traded funds (ETFs) that specialize in Bitcoin have seen net inflows of almost $32 billion this year, with more than $8 billion coming in since Trump won the election.

The Development of Crypto

Currently, the market value of cryptocurrency assets is little under $2 trillion. To put this in perspective:

NVIDIA’s market capitalization is approximately $3.5 trillion.
At almost $3.6 trillion, Apple’s market capitalization is marginally larger.
Approximately $17.7 trillion is the market value of all gold worldwide.

With the expectation of pro-Bitcoin policies from the incoming Trump administration, which is creating a favorable climate for digital assets, enthusiasm for the cryptocurrency is predicted to continue.
Bitcoin Hits the $100,000 Mark

Bitcoin (BTC) recovered from a recent decline to break the noteworthy $100,000 level on Thursday. Last week, it surpassed its previous all-time high (ATH) of $99,588. The news on Wednesday that Paul Atkins would take Gary Gensler’s place as SEC Chair further spurred the rise.

Technically speaking, as Bitcoin moves into a price discovery phase, analysts are keeping an eye on a possible target of $113,000.
Paul Atkins is Donald Trump’s nominee to be the next chair of the SEC.

Paul Atkins, the CEO of Potomac Global Partners, was confirmed by President-elect Donald Trump on Wednesday as the next chairman of the Securities and Exchange Commission (SEC). Given Atkins’ supportive attitude toward cryptocurrencies, this revelation had a beneficial effect on the market.

Following the announcement, the price of Bitcoin increased 2.8% on Wednesday and continued to rise, breaking the $100,000 mark on Thursday.

Bitcoin Hits Six-Figure Marks

Bitcoin surpassed its previous all-time high of $99,588 on Thursday, surpassing the $100K milestone after rebounding from last week’s decline. It is currently trading at almost $103,000.

Analysts predict that if Bitcoin keeps rising, it may challenge its 141.40% Fibonacci extension level, rising from its low of $66,835 on November 4 to its high of $99,588, or $113,147, on November 22. The rise may continue toward the psychologically critical $125K milestone if this level is strongly closed above

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Important Technical Indicators

Relative Strength Index (RSI): The RSI is above the overbought level of 70 at 72 on the daily chart. When adding to long positions, traders should use caution because there is a greater chance of a price downturn. The RSI is still pointing upward, though, indicating that the rise may continue and hold above the overbought area.

Support Levels: Should Bitcoin see a drop, it might return to its $90,000 support level, which might prolong its downturn.

The favorable perception of Trump’s administration and its pro-crypto position are the major factors driving Bitcoin’s continued strong momentum. Even while economists caution about possible declines, Bitcoin’s long-term outlook is still optimistic as it keeps setting new records.

Conclusion:

With hope stemming from Donald Trump’s pro-crypto policies, Bitcoin’s historic milestone of surpassing $100,000 marks a turning point in the cryptocurrency sector. The crypto economy is poised for long-term growth thanks to legislative changes, industry-friendly leadership hires, and expanding institutional use. However, as market volatility and outside factors may cause swings, prudence is urged. A dynamic era for digital assets is highlighted by the junction of politics, innovation, and investor sentiment; Bitcoin’s rise could lead to wider acceptance and expansion in the financial ecosystem.