Bitcoin’s value surged to a new record high of over $106,000 on Sunday, following President-elect Donald Trump’s suggestion of creating a national strategic reserve of the cryptocurrency. This is the latest development in the market’s post-election rally.
The rally has sparked hopes that Bitcoin may reach its long-held target of $150,000 this cycle. Market analysts are cautiously optimistic about the potential price increase, citing increasing demand for digital currencies and growing institutional investment in Bitcoin.
However, experts also warn of significant volatility and potential regulatory changes that could impact the market’s trajectory. As the situation continues to unfold, investors will be watching closely for any signs of further price movements or government intervention.
For now, Bitcoin remains one of the most popular and highly speculative assets on the market, with its value continuing to fluctuate wildly in response to global events and economic trends.
Source: https://www.marketwatch.com/story/bitcoin-hits-another-record-high-can-it-reach-150-000-this-cycle-8afd5235