Bitcoin continues its meteoric rise in 2024, reaching a new peak of $80,116, driven by Donald Trump's reelection and massive institutional investments via Bitcoin ETFs.
A Historic Surge Driven by Political Events
On November 10, 2024, Bitcoin crossed the symbolic $80,000 mark on Bitstamp, boosting its market capitalization to $1.5 trillion. This rise is linked to Donald Trump's victory on November 6, who supports cryptocurrencies. This also boosted other major cryptocurrencies like Ether and Dogecoin.
ETFs and Institutional Demand as Drivers
Since early 2024, Bitcoin has risen by 80%, driven by the launch of Bitcoin ETFs in the US. BlackRock's iShares Bitcoin Trust saw remarkable success, gathering $1.4 billion in a single day. The limited supply of Bitcoin fuels investor interest even further.
Experts' Forecasts: What's Next?
Experts predict further increases in Bitcoin prices. Some analysts expect it to reach $100,000 by the end of 2024, whereas Bernstein Research forecasts $200,000 by the end of 2025.
Bitcoin continues to surprise analysts and investors with its price performance. Donald Trump's reelection and the launch of Bitcoin ETFs in the US had a significant impact on cryptocurrency growth, and experts are making bold forecasts for the future.
