December 18, 2024 – The buzz around Bitcoin is growing louder by the day. Yesterday, the cryptocurrency recorded another all-time high, reaching upwards of $108,000, and the trading community is abuzz with talks of hitting $110,000 soon.
Election Effects and Crypto The surge comes on the heels of Donald Trump's presidential win and his subsequent moves favoring the crypto industry. The proposed appointment of Paul Atkins as SEC chair has particularly enthused investors, given his positive stance on cryptocurrency.
Big Players Making Big Moves MicroStrategy’s ongoing Bitcoin acquisitions and its recent entry into the Nasdaq 100 have further cemented crypto's appeal to institutional investors. According to Shiliang Tang from Arbelos Markets, this has led to significant bets in the options market, with a noticeable shift in investment strategies toward higher thresholds.
What’s Next for Bitcoin? As we head into 2025, the landscape for Bitcoin remains robust, supported by geopolitical factors, expected shifts in U.S. monetary policy, and more open regulatory frameworks. Chris Newhouse of Cumberland Labs points out that despite the market’s current bullishness, the realignment of crypto’s value in response to these factors could redefine its financial trajectory.
