Bitcoin prices have surged to a fresh all-time high of $110,000 per bitcoin, driven by speculation that Donald Trump’s return to the White House will spark a series of pro-crypto executive orders. The sudden spike has been dubbed a “god candle” and is seen as a sign of investors’ confidence in the market.
Trump had previously promised to create a strategic national bitcoin reserve, which could potentially catapult prices further. Analysts believe that if Trump’s plans become reality, it could lead to a virtuous cycle where other countries follow suit, driving up demand and prices.
Several cryptocurrency experts are predicting a significant increase in the value of bitcoin and other cryptocurrencies in 2025, with some forecasting prices could reach as high as $1 million. The market is bracing for a big week ahead, with investors eagerly awaiting Trump’s first day back in office on January 20.
Source: https://www.forbes.com/sites/digital-assets/2025/01/20/god-candle-suddenly-sends-bitcoin-to-all-time-high-price-as-trump-stuns-crypto