Since November, Bitcoin has exceeded the many predictions and claims by many crypto analysts that it will rise to new all-time highs, particularly as Donald J. Trump won the 2024 US Presidential elections. Because of this stellar win for Trump's second term, many bull and investors rallied for the top coin and at first, it was able to surpass its initial ATH at $73,000, but later moved up to tens of thousands of dollars more.
Many thought that Bitcoin would reach $100,000 before the year ended, and it did so in early December, but it was the last of the wild predictions of the coin as it was said to face a ceiling in the $100k threshold.
The Future of Bitcoin: $100,000 Valuation is Easy Peasy
Earlier this year when crypto analysts and believers claimed that Bitcoin would reach $100,000 by year's end, many doubted these statements as the crypto industry was significantly struggling during this time. That being said, many of them believed that it would reach $75,000 regardless of who won the elections, may it be the Democrats' bet, Vice President Kamala Harris, or the Republicans' Donald Trump.
However, even before any of these candidates won the election, the crypto industry already saw significant movement in their rankings, particularly with the top coin in the market which almost beat its then all-time high that it set in March.
According to AJ Bell investment analyst, Dan Coatsworth (via BBC), Bitcoin's current "magic moment" is linked to none other than the President-elect, and many fans of the politician and the crypto industry itself helped make this new milestone possible.
In less than a month, Bitcoin was able to rally up to $100,000 and set a new threshold for its valuation, and it was something that many thought to be impossible because of its performance earlier this year, doing so easily.
Donald Trump and the US Bitcoin Future
Trump is already gearing up for his future "crypto capital" plans for the United States where he already named the so-called AI and crypto czar that will help the government in their operations with David Sacks, a renowned podcaster and Trump ally.
On the other hand, Trump also expressed his intent to remove the current SEC chair, Gary Gensler, from his post and replace him with a leader that will be more flexible to crypto regulations, alongside his recent announcement of the US Bitcoin Strategic Reserve.
Bitcoin's Massive Performance
Earlier this month, Bitcoin already logged a 140 percent surge for the entire year of 2024, following a bearish 2023 where the top coin fell to a critical valuation of around $16,000, but investors worked hard to bring it back up to $40,000. Thanks to its recent rally and now setting a new all-time high at $107,000, Bitcoin's annual performance increase is at 150 percent.
It remains unknown what the future holds for Bitcoin after it already reached the $100,000 threshold which was one of the top things that crypto fans and believers have been looking forward to for the top coin. But it is expected that it hasmore to give, especially as when Donald Trump officially begins his second term.
For now, bask in the moment of Bitcoin's ramping valuation that sits comfortably within the $100,000 price range, with many investors looking to rally it more in the future.
