Markets for cryptocurrencies are gaining momentum. Bitcoin (BTC), original cryptocurrency, has returned to the $101,000 price level. BTC is up 2.7% on the daily charts; 10.3% on the weekly charts; 8.1% for the 14-day chart and 1.9% compared to the prior month. Market cap-wise, BTC has risen 131.7% in the past year.
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Why has the Cryptocurrency market risen today?
BTC could have seen a recent rise in value due to Donald Trump’s impending inauguration. Trump’s crypto stance led some to think that we would experience a bull run during his term. The US President-elect stated that the US should become a hub for crypto.
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Microstrategy could have also been responsible for Bitcoin’s (BTC), rally, due to its purchase of another 1070 BTC worth $101million. It is also one of the largest BTC owners. The CEO is the owner of this company. Michael SaylorThe asset is a strong buy for.
MicroStrategy has acquired 1,070 BTC for ~$101 million at ~$94,004 per bitcoin and has achieved BTC Yield of 48.0% in Q4 2024 and 74.3% in FY 2024. As of 01/05/2025, we hodl 447,470 $BTC acquired for ~$27.97 billion at ~$62,503 per bitcoin. $MSTR https://t.co/CkLrLSkB5M
— Michael Saylor⚡️ (@saylor) January 6, 2025
Bitcoin to Hit $140,000 in the Next Few Years?
CoinCodex predicts that BTC’s price will rise over the coming months. According to the platform, BTC is expected to reach an all-time record of $143,218 by March. 30, 2025. A rally of around 40.5% will be required to reach $143,218 in currency prices.
Changelly provides a more cautious outlook on Bitcoin (BTC). Platform predicts BTC will trade at $110,845 as a maximum possible price in March 2025. A price increase of 8.8% is expected if BTC reaches $110,845 in March 2025.
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BTC could eventually surpass the $200k mark in this year. Trump could provide a conducive environment to the growth of crypto. Many new financial products based on crypto could be created. BTC prices may reach levels never seen before.
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Source: watcher.guru
