Bitcoin At $120K? Trading Firm Links Trump’s Reserve Plan To Bold Prediction

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As a seasoned researcher with over two decades of experience in financial markets, I must say that the recent surge in Bitcoin’s price to $93,120 and beyond is not just surprising but rather intriguing. My career has taken me through various market cycles, from the dot-com bubble to the 2008 financial crisis, and now, I find myself witnessing a new phenomenon – the meteoric rise of Bitcoin.

It’s not surprising that Bitcoin reached $80,000 in value lately, as some analysts expected this following Donald Trump’s winning election in the latest U.S. presidential contest.

Certain market experts and onlookers are putting forth more daring predictions, driven by whispers about a Bitcoin strategic stockpile and the potential passing of the Bitcoin Act.

As a researcher, I’m currently observing the cryptocurrency market, and I find myself in agreement with QCP’s bullish outlook. They predict that Bitcoin, the leading digital asset, could potentially surpass the $120,000 mark in the near future.

According to QCP, the upcoming presidency of Donald Trump, the proposal to establish a strategic Bitcoin reserve, and recent changes in U.S. inflation statistics are significant factors influencing the value of this digital asset.

Favorable Market Conditions Boost Bitcoin Price

This week, Bitcoin’s price soared yet again, reaching a new peak of $93,120. This remarkable rise has propelled the total value of the worldwide cryptocurrency market above $3 trillion.

The rally comes as the US government released its inflation data, with headline and core inflation numbers at 2.60% and 3.30%, respectively, in line with expectations.

Furthermore, there’s strong belief among analysts that the Federal Open Market Committee could reduce interest rates by 0.25% at their December meeting. They suggest that such a change in monetary policy may increase optimism towards riskier investments like Bitcoin.

$100k To $120k For BTC Possible, Says QCP

As a crypto investor, I’m excited about the prediction made by QCP Trading on Twitter, suggesting Bitcoin could soar to $100k to $120k. This optimistic outlook is bolstered by proposals for a BTC strategic reserve and potential government shifts towards digital assets, possibly indicating a move away from gold.

Given Bitcoin’s remarkable surge since the U.S. election, we believe it’s possible that the price could reach between $100,000 and $120,000 in the near future. The concept of President Trump establishing a strategic Bitcoin reserve and the shift from gold to Bitcoin as an investment, creates a compelling storyline that is likely to maintain Bitcoin prices at a steady level.

— Wu Blockchain (@WuBlockchain) November 15, 2024

On the other hand, QCP issues a warning to the crypto industry regarding overuse of leverage in altcoins. They also noted that perpetual funding rates have risen by 50% to 100%, largely because of heavy leveraged purchases. This situation heightens the possibility of a deleveraging event, which could lead to a decrease in prices.

Other Analysts See Continuous BTC Price Surge

Beyond just QCP, various analysts and financial entities are scrutinizing the upward trajectory of Bitcoin. One of these analysts, Matthew Sigel from VanEck, shares a positive outlook regarding the movement in digital asset values.

Since the elections, Bitcoin’s value has risen approximately 30%, and according to VanEck’s unique predictors, this upward trend seems set to persist.

Sigel additionally pointed out that the market is positive towards Bitcoin due to Trump’s re-election and other pro-crypto figures. According to VanEck’s predictions, Bitcoin could reach $180,000 by the end of the next year.

According to Rekt Capital’s perspective, which mirrors VanEck’s viewpoint, the value of this asset is experiencing a steep upward trend, termed as “extreme growth phase.” The market analyst added that this stage could persist for around 385 days, offering numerous chances for traders and investors to make gains.

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2024-11-17 07:12