Will Bitcoin Hit $100K? Trump’s Presidency Could Be the Key!

Bitcoin is edging closer to reaching the highly anticipated $100,000 milestone, fueled by investor optimism. This positive sentiment is largely attributed to the recent victory of Donald Trump in the 2024 U.S. presidential election, which has sparked renewed hope for favorable cryptocurrency regulations over the next few years.

Bitcoin Hits Historic Highs

In November 2024, Bitcoin saw a remarkable surge, printing its largest monthly candle in crypto history. The cryptocurrency’s price rose by over 40%, breaking through the $99,000 mark and setting a new all-time high as per Coinpedia markets data. This move comes just two weeks after Trump’s election victory, which has contributed to a growing appetite among investors for riskier assets like Bitcoin.

BTC/USD, all-time chart. Source: TradingView

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Trump’s Crypto Ambitions

Trump Media's trademark filing for "TruthFi" suggests plans for crypto services, including trading, digital wallets, and payment processing. This move signals potential crypto-friendly policies under Trump’s administration.

Calls for Crypto Regulation Reform

At the North American Blockchain Summit, CFTC Commissioner Summer Mersinger urged the U.S. to adopt clearer crypto regulations. She criticized the current "regulation by enforcement" approach and called for more consistent policies.

What’s Next for Bitcoin?

With the growing support from both political and regulatory figures, Bitcoin’s path toward $100,000 seems increasingly likely. As more analysts predict Bitcoin will soon breach the $100,000 threshold, the cryptocurrency market appears poised for further growth. Investors are hopeful that the combination of Trump’s presidency and clearer regulations will provide the stability needed for Bitcoin to continue its ascent.