Bitcoin is approaching $100,000 – the rate of the first cryptocurrency has set a new record

The world’s most popular cryptocurrency has continued to rise steadily in value since Donald Trump won the US presidential election earlier this month. This time, Bitcoin surpassed $97,000 per coin, and for a short time the rate rose to $97,788 per coin (data from Coin Metrics). At the time of writing this news, the price of Bitcoin has dropped to approximately $97,230 per coin.

Image source: unsplash.com

This month, Bitcoin is breaking records one after another, which was facilitated by the victory in the election of US President Donald Trump. He has repeatedly spoken positively about the cryptocurrency market, and investors expect industry regulation to become looser once Trump takes office. The potential creation of a US strategic reserve in Bitcoin is also being discussed. According to some analysts, by the end of the year the rate of the most popular cryptocurrency in the world could rise to $100 thousand per coin.

Image source: Coin Metrics

«Bitcoin’s value continues to be driven by a number of factors, including improving liquidity conditions, increased institutional adoption and a regulatory environment that has shifted from a headwind to a tailwind,” said Swan Bitcoin analyst Sam Callahan.

Another Trump presidency means higher budget deficits, potentially higher inflation, and a change in the international role of the dollar – all of which will have a positive impact on Bitcoin’s price. Note that in total during 2024, Bitcoin rose in price by 127%.