Bitcoin prices skyrocketed to a new all-time high of $88,448 on Monday, following President-elect Donald Trump’s pro-crypto stance during his campaign. The move is seen as a positive indicator for the cryptocurrency market, with analysts predicting further gains in the coming months.
Bernstein analysts have urged investors to add crypto industry exposure “as soon as possible,” citing a friendlier regulatory environment under Trump. This includes a new Securities and Exchange Commission Chair, who is expected to support pro-crypto policies.
However, new investors should exercise caution, warns Anthony Yeung, global head of strategic development at CoinCover. Bitcoin’s volatility makes it attractive to new entrants, but also poses risks that require education and awareness.
Spot bitcoin ETFs have generated significant inflows, with BlackRock’s iShares Bitcoin Trust ETF (IBIT) leading the pack. Shares of Coinbase Global (COIN) and Robinhood Markets (HOOD) have also surged, reflecting the positive sentiment in the market.
Analysts are bullish on bitcoin, with some predicting a price target of $200,000 by 2025 or even $100,000. However, caution is needed to avoid malicious activity and ensure investors understand the risks involved.
The crypto market continues to rally, driven by Trump’s pro-crypto promise and the growing recognition of its potential as a legitimate investment opportunity. As the industry moves forward, investors will need to stay informed and adapt to changing market conditions.
Source: https://www.investors.com/news/bitcoin-price-82000-trump-election-victory-buy-crypto