After touching that maximum, Bitcoin moved away from that value and is trading at US$86,424. However, analysts see four key long-term catalysts.
Bitcointhe most used cryptocurrency maintains the strong rise that began on November 5, when Donald Trump won the US presidential elections and set a new record at US$89,926. Since November 5, when Trump proclaimed himself the new president, the cryptocurrency has appreciated almost 30%.
After touching that maximum, Bitcoin moved away from that value and is trading at US$86,424. In the accumulated of the year, the cryptocurrency advances almost 96%, being one of the best investments of the year with a dollar ironed in Argentina.
Besides, Ethereum advances more than 3% in the last 24 hours, and stands at US$3,200. The rest of the altcoins operate with gains of more than 33% led by Dogecoin, followed by Avalanche (9%) and Ripple (8.3%).
Analyst Javier Cabrera explains that the strong rise in Bitcoin since last November 5 is due to the fact that Trump has shown an “open position to this market”, unlike 2016, when he was “totally contrary.”
eToro experts also assure that the panorama after the Republican victory in the United States It is favorable for the cryptocurrency sector, as the Trump Administration promises a more favorable regulatory framework.
Markus Thielen, CEO of digital asset investment firm 10x Research, said in a recent report that the market could ber underestimating a number of “key catalysts” that are pushing bitcoin up to US$100,000. Thielen was one of the analysts who successfully predicted the spectacular rise of bitcoin in the first quarter of the year following the approval of spot BTC exchange-traded funds (ETFs).
Bitcoin closer to US$100,000?
According to this strategist, these factors could favor the adoption of cryptoassets “beyond the critical threshold” of 8% of the world’s populationa “tipping point” that would “lead to widespread adoption” in sectors such as computing, smartphones, social networks, ride-sharing, streaming, mobile payments and electric vehicles. “Cryptocurrencies are expected to surpass this threshold in 2025, which will be a transformative change for the sector and will lay the foundation for widespread acceptance“Thielen adds.
Cryptocurrencies: the four factors to follow after Trump’s victory
Thielen points out that the aforementioned goal of $100,000 is not that far away for bitcoin and points out the three factors to follow during Donald Trump’s presidency in relation to regulatory changes.
- The first has to do with MicroStrategythe largest institutional holder of bitcoins on the planet. And this company, which has shone on the stock market in 2024 and which offers interesting revaluation potential according to different analysis firms, could become part of the most important stock market in the world: the S&P 500. On December 6, Standard & Poor’s will announce its quarterly index rebalancing changes, which could include this company widely considered a kind of bitcoin substitute. If it is included, many index tracking funds will have to buy this security and, consequently, bitcoin could appreciate.
- Secondly, Thielen draws attention to the voting that Microsoft will take place on December 10 to invest in bitcoin, despite frontal opposition from the board of directors. This proposal, presented by the conservative National Center for Public Policy Research and linked to Project 2025, asks that ‘big tech’ consider BTC as an investment.
- Finally, beginning for fiscal years after December 15, 2024, the Financial Accounting Standards Board (FASB) will introduce new rules that will allow companies to report crypto assets at their fair market valuewhich will allow companies to accurately reflect BTC holdings. “This accounting change could encourage company treasuries to add bitcoin to their balance sheets“Thielen noted. But that’s not all.
- New SEC chairman? trump promised to remove Gary Genslercurrent leader of the securities regulator, for, among other things, his position against crypto assets. During his tenure, Gensler sued numerous cryptocurrency companiesaccusing them of trading unregistered securities.
Source: Ambito
I am Pierce Boyd, a driven and ambitious professional working in the news industry. I have been writing for 24 Hours Worlds for over five years, specializing in sports section coverage. During my tenure at the publication, I have built an impressive portfolio of articles that has earned me a reputation as an experienced journalist and content creator.
