Bitcoin (BTC) Breaks $100K Amid Post-Election Bull Run: What Drive BTC Price Up & What’s Next?
By:W, LeahAfter hitting a ATH of over $99K on November 23, Bitcoin (BTC) has witnessed about a week of sideways movement and fluctuations. Finally, Bitcoin (BTC) broke through $100,000 for the first time to reach an all time-high of $103,600 on Thursday, December 5, during early Asian trading hours.
Then, what factors drive BTC to hit $100K milestone? What’s the next for Bitcoin (BTC)? Next, lets take a close look at Bitcoin (BTC).
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Table of Contents
Bitcoin (BTC) Price Prediction: What’s the Next?
Bitcoin (BTC) Overview
| Cryptocurrency | Bitcoin |
| Token | BTC |
| Price | $ 97452.0000  -3.62% |
| Rank | 1 |
| Market Cap | $ 1,928.6B |
| 24H Trading Volume | $ 183.9B |
| All-time High | $ 103804.0000 |
| All-time Low | $ 0.0500 |
| 24 High | $ 101110.0000 |
| 24 Low | $ 94947.9800 |
| Cycle High | $ 101956.0000 / 2024-12-06 20:30:40 |
| Cycle Low | $ 91501.5000 / 2024-12-05 22:28:44 |
| Update Time | 2024-12-10 03:33:04 |
As of writing the article, BTC is traded at $ 97452.0000, boasting a market cap of $ 1,928.6B, and witnessing a hefty 24-hour trading volume of $ 183.9B. BTC saw a 24-hour price change of -3.62%, with minor fluctuations of 0.44% in the past hour.
The following sets forth the BTC to USD Chart
BTC USDT-margined perpetual futures contract with a leverage of up to 500x is available on BTCC. If you are interested, click the button below to buy Bitcoin (BTC) ⇓
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What Drive BTC Price Up?
Bitcoin had approached to breaching $100,000 in November 23, later falling as low as $91,000 amid profit taking. On Thursday, December 5, during early Asian trading hours, Bitcoin jumped above $100,000 for the first time ever amid optimism around the incoming pro-crypto Trump administration.
What factors drive BTC to hit $100K milestone? There is no doubt that Trump’s electoral campaign and subsequent election victory plays a most important role in push BTC to pass the $100K milestone. What’s more, Bitcoin (BTC) hits above $100,000 came just hours after President-elect Donald Trump announced former SEC commissioner and co-chair of the Digital Chamber’s Token Alliance Paul Atikins as Gensler’s replacement at the top of the SEC, a nomination viewed favorably by the crypto industry.
With Republicans establishing their control over both houses of Congress and the executive branch, Trump will have the power to fulfill his pro-crypto promises. Whether he acts on all of them, such as the promise of a Bitcoin stockpile — or even a Bitcoin reserve — remains to be seen; however, the initial indications are encouraging, particularly with regard to the nomination of pro-crypto candidates for the most prestigious positions within the administration.
The possibility of a government that is genuinely welcoming to cryptocurrencies has ignited enthusiasm and optimism. Besides, favorable macroeconomic conditions also have provided a tailwind.
In an era characterized by inflation, currency depreciation, and evolving geopolitical landscapes, Bitcoin has emerged as a fascinating, albeit unconventional, solution to the global macroeconomic challenges.
As inflation spirals out of control, the purchasing power of fiat currencies across the globe has seen a dramatic decline. In the United States, inflation reached a peak of 9.1% in 2022, marking its highest level in four decades, before moderating but still lingering uncomfortably above historical benchmarks.
The US Federal Reserve’s aggressive interest rate hikes, aimed at curbing inflation, have disrupted markets and sparked concerns about a potential recession. However, in response to economic headwinds, the Fed has started to shift towards more accommodative policies, as evidenced by recent rate cuts. This resulting liquidity may provide fertile conditions for Bitcoin’s growth.
Bitcoin (BTC) Price Prediction: What’s the Next?
As Bitcoin’s price skyrockets, it is inevitable that wild predictions will proliferate. However, some daring analysts have ventured to put their reputations on the line by setting specific price targets for BTC ahead of the post-election surge, even risking future ridicule if their predictions fall short. Industry experts anticipate that this new all-time high for Bitcoin will catalyze increased growth across the entire cryptocurrency sector.
Standard Chartered has maintained the $200,000 price level since January 2024, back before ETFs were approved. The anticipation of a wave of institutional investors seems to be the driving factor for their prediction.
On Oct. 22, institutional market researcher Bernstein projected that Bitcoin would hit $200,000 by the end of 2025. The report indicates that 2025 will mark the beginning of a “new institutional era” for crypto markets, with Wall Street expected to “replace Satoshi as the top Bitcoin wallet” by the end of 2024.
Geoff Kendrick, global head of digital assets research at Standard Chartered — a cross-border bank — also believes Bitcoin could reach the $200,000 mark by the end of 2025, regardless of who won the 2024 US presidential election.
Now that Bitcoin has passed the $100K milestone, industry experts predict that the new Bitcoin ATH will lead to increased growth within the crypto sector overall.
“The more valuable a single BTC becomes, the more it will have a significant effect on retail investors,” Enneking said. “The asset is also closer to becoming incorporated into different countries’ reserves.” Enneking added that the $100k Bitcoin price will not turn into permanent support for the asset.
Tim Enneking, Founder and Principle of Digital Capital Management, said that Bitcoin breaking $100,000 indeed creates fear of missing out, or “FOMO” for retail investors.
Dennis Porter, CEO and Co-Founder of Satoshi Action Fund, said that the $100k BTC price will likely result in a massive surge of retail purchases.
Regardless of where Bitcoin’s price ultimately lands, one thing is unequivocally clear: it has achieved another significant milestone, cementing its status as one of the world’s most valuable hard assets. Having already surpassed silver, it now has its ambitions focused on gold.
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How to Buy Bitcoin (BTC)?
BTC USDT-margined perpetual futures contract with a leverage of up to 500x is available on BTCC, you can buy BTC anytime on BTCC at the lowest price and highest security.
The following sets forth the guidance for buying BTC on cryptocurrency exchange BTCC:
Step One: go to the BTCC homepage and log in to your BTCC account. If you do not have an account, you need to register first.
Step Two: on the BTCC official homepage, choose “Deposite”, and then fund your account with your preferred method (fiat deposit, crypto deposit or convert).
Step Three: go back to the BTCC official homepage, choose “Futures” -“USDT-M Perpetual Futures Contract”, and find BTC/USD trading pair.
You can also directly click the button below to enter the BTC order page.
Step Four: choose the contract trading order type. Futures contract orders on BTCC platform include market orders, limit orders and SL/TP orders.
- Market Order: users place orders at the best price in the current market to achieve fast trading.
- Limit Order: Limit orders are a type of order to buy or sell futures at a price more favourable than the market price. When you buy at a price lower than the market price or sell at a price higher than the market price, the order will be in the form of a limit order.
- SL/TP Order: SL/TP orders are a type of order to buy or sell futures at a price less favourable than the market price. When you buy at a price higher than the market price or sell at a price lower than the market price, the order will be in the form of a SL/TP order.
Step Five: adjust the leverage multiple.
Please keep in mind that operating leverage carries the risk of liquidation. Leverage should be adjusted based on your financial status and risk tolerance.
Step Six: choose the lot size and set the SL/TP price .
Step Seven: after setting the basic data information, users can choose to buy (open long) or sell (open short) after entering their ideal price. Traders should remind that the price cannot be higher or lower than the highest buying price or lowest selling price of the platform.
Step Eight: click the buy or sell button, and BTC futures contract order is completed.
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