Bitcoin, the world’s largest cryptocurrency, hit a new all-time high of $95,672 on Wednesday after its price rose to 3.55% in the past 24 hours.
For the first time, on Nov. 20, Bitcoin reached the new highest price level of $95,000; the next target is $100k. The price surged to 42% from $67,400 a month and rose triple digits to 154% in a year.
U.S. election still became the biggest support for the price movement since Donald Trump won and has a vision for better crypto regulations. He also picked several names as his secretary and identified them as pro-crypto personalities, including Elon Musk and Robert. F. Kennedy Jr.
Bitcoin ETF trading options also boost crypto prices due to the high level of market interest in the crypto-related product. On Tuesday, BlackRock’s iShares Bitcoin Trust (IBIT) hit notional exposure of up to $1.9 billion.
Another trading option will released on Nov. 21, including Bitwise (BITB), Grayscale (GBTC), and the mini trust version (BTC).
Bitcoin price $100k is on the market eye
Michael Saylor, executive chairman of MicroStrategy, in an interview with CNBC on Nov. 14, stated that he is already planning for the New Year’s Eve party to celebrate the $100k price before the end of the year.
“I think it’s going to go up from here. I’m planning the $100,000 party and I’m thinking it’s probably going to be New Year’s Eve at my house. So I would be surprised if we don’t go through $100,000 in November or December,” said Saylor.
Beyond the $100k price target, Bernstein Research has an ambitious bullish target for price in 2025 by $200k. This projection has been updated from $150k due to the rise in institutional demand in many places.
