Following Donald Trump's win in the presidential election, Bitcoin's price hit a new high of $93,000, sparking discussions about its potential to reach the $100,000 mark.
Why Bitcoin Is Rising Right Now
The major reason for Bitcoin's surge is Donald Trump's unexpected victory in the presidential election. Previously critical of cryptocurrencies, Trump has changed his stance, even discussing the creation of a 'national Bitcoin reserve'. This move has excited Bitcoin enthusiasts, speculating that the government might become more crypto-friendly.
Options Traders Are Betting Big on $100K
Traders are actively engaged in options trading, betting on Bitcoin reaching $100,000. A notable bet set for the end of December has already gained 30% in value. Overall, approximately 9,635 Bitcoins—worth around $780 million—are locked in these bets, indicating a strong belief in the continued price surge.
Institutional Investors Are Joining the Action
It’s not just individual traders getting excited; large financial institutions are also involved. At CME Group, interest in Bitcoin futures has risen by 12% since November 5. Even Ethereum futures have hit record levels, indicating confidence among large investors in the ongoing rise of digital assets.
Despite optimistic forecasts, it's important to note that rapid gains can lead to quick drops. Market greed is high, which always carries risks. Investors should be cautious in their strategic choices.