- CNBC predicts Bitcoin could hit $100,000 soon, fueled by Trump’s expected pro-crypto policies.
- A new U.S. Bitcoin reserve plan may support Bitcoin’s growth and increase investor confidence.
- Bitcoin’s rally continues as investors await lower Fed rates and Trump’s return to office.
Bitcoin could hit $100,000 before Donald Trump’s inauguration, CNBC has predicted. Today, Bitcoin broke its previous record high by surging past $76,000. This follows new crypto friendly policies that markets expect from Trump’s incoming administration.
Trump’s Return Sparks Crypto Market Optimism
Bitcoin began its rally early today, crossing the $75,000 mark after Harris’s concession secured Trump’s return to the White House. Investors now anticipate favorable changes for cryptocurrency under Trump’s leadership.
The U.S. government currently holds $15.83 billion in seized Bitcoin. Reports suggest Trump may use these assets to create a national Bitcoin reserve. Such a reserve could further stabilize and grow Bitcoin’s market presence.
Senator Cynthia Lummis proposed a plan to expand this reserve. The proposal suggests the government acquire 200,000 BTC over the next five years. This strategy aims to strengthen Bitcoin’s stability and confidence in the crypto market.
Federal Reserve Policies Fuel Bitcoin’s Rise
The Federal Reserve’s potential 25-basis-point rate cut is also influencing Bitcoin’s upward trend. Lower interest rates often increase demand for alternative investments like Bitcoin. With expectations of supportive policies, Bitcoin has gained strong momentum.
On November 6, Bitcoin’s price saw a nearly 9% surge, according to TradingView data. The cryptocurrency’s Relative Strength Index (RSI) now stands at 67.10, showing significant buying interest. Although a minor pullback could occur, analysts remain positive. They believe that Trump’s pro-Bitcoin policies could drive Bitcoin’s value higher.
Market Awaits Potential $100,000 Milestone
The market’s optimism suggests Bitcoin may reach $100,000 before Trump’s inauguration. CNBC analysts see this as a realistic target if Trump’s crypto policies materialize. Investors continue to watch Bitcoin’s price, anticipating further gains ahead of January. The cryptocurrency’s performance shows strong momentum as market interest grows.
The post CNBC Predicts Bitcoin Could Reach $100,000 Before Trump’s Inauguration appeared first on Crypto News Land.
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