The Bitcoin also reached the goal of $94,000reaching a new historical record and trailing all other cryptocurrencies. A performance that does not seem to stop and, with an increasingly stronger dollar, could continue, even breaking the ceiling of 100 thousand dollars.
The new all-time high
In the last twenty-four hours, Bitcoin has reached a peak of $94,038a level never reached before, and then returned this morning to 92,437 dollars, up 0.45% compared to yesterday. Market capitalization reached $1.83 trillion, while volumes reached $79.4 billion.
The conflict effect
The latest surge in the world’s best-known cryptocurrency was triggered by the renewals tensions between Russia and Ukraine: the decision of the outgoing American President Joe Biden to arm Kiev and the response of the Russian President Vladimir Putin, who has not ruled out a nuclear conflict.
Upon reaching the milestone of a thousand days of war, Kiev decided to launch i missiles Atacms supplied by the US against an arms depot, triggering the Putin’s harsh response on which he signed the new nuclear doctrinepaving the way for an “extreme” response in the case of deep attacks.
Trump’s victory in the elections
The revitalization of Bitcoin at the beginning of November also contributed Donald Trump’s victory in the 2024 presidential elections. Since the outcome of the vote, Dogecoin, the crypto promoted by Elon Musk, has shown an increase of 150%, Ether and Solana of 40% and Bitcoin of over 30%.
Over the last year, the tycoon has not hidden his preference for cryptocurrencies, stating several times that he wants to develop this market and that he wants transform the United States into the crypto capital. For this reason, his nomination to the White House triggered the Bitcoin rally.
We then focused on appointment of one of his loyalists to the Treasury, but this was not the case. Trump has chosen Howard Lutnick, CEO of Cantor Fitzgerald, which Secretary of Commerce. The financier is known for his support for Tether, a stablecoin that aims for parity with the dollar, which implies the need to maintain adequate reserves for the purpose. A commitment that Lutnick assures has been kept.
The launch of options on the Nasdaq
The last obstacle to the consecration of the cryptocurrency market as a mature asset was inclusion on the Nasdaqwhich occurred yesterday, of options on Bicoin ETFs. A new milestone for the market, which on January 11, 2024 celebrated the launch of the first ETFs on the main US stock exchanges, and today also celebrates the options on those ETFs, traded on the Nasdaq.
Is the 100,000 goal within reach?
Having reached the threshold of 94 thousand dollars, one might wonder whether the cryptocurrency will quickly reach that 100 thousand dollars and what the other market goals will be.
Second Philip DiodovichSenior Market Strategist at IG Italy, “there is a frenzy and a perhaps a little too excessive enthusiasm” and that “the markets are discounting possible policies in favor of the crypto world prematurely”. For this reason, the analyst believes “it is very difficult that in the short term all those changes so requested by users of digital currencies can be implemented” and therefore predicts that “the positive movement of Bitcoin can have a short lifeperhaps towards the psychological goal of $100,000, and then show one significant correction“.
