At the time of this writing, the price of bitcoin (BTC) is less than 3% away from reaching the long-awaited $100,000 mark.
It could be a matter of hours (or less, perhaps?) for the price of the digital currency to touch or exceed that figure.
Donald Trump’s victory in the US presidential elections on November 5 gave bitcoin the push that has led it to surpass all-time highs since then.
Let us remember that the president-elect has promised to create a strategic national reserve in bitcoin and promote regulations that favor the cryptocurrency mining industry.
Furthermore, the recent approval of options on bitcoin ETFs broadened the appeal of the digital currency, especially for institutional and corporate investors.
And after $100,000, what’s next for bitcoin? In general, The market expects the ‘bull run’ to continue in the remainder of 2024 and, at least, the first half of 2025.
Analysts at Bernstein, for example, assure that BTC will reach $200,000 next year.
The trader Iván Paz Chain, consulted by CriptoNoticias, assured that he projects bitcoin at $140,000 in 2025. In any case, he assures that this is not a static and immovable prediction, but rather that it must be constantly adjusted according to what on-chain data shows. .
In addition, For those who want to take profits in this bullish cycle, it may be useful to think about an exit strategybecause everything that goes up must come down and it is most likely that at some point the rise of BTC will end and a new crypto winter will begin. For this, the guide written by journalist Martín Arrúa, «4 strategies to know when to sell bitcoin«, may be useful.
Finally, it is important to clarify that reaching figures such as $140,000 or $200,000 (if it occurs) will not be in a straight line. Bitcoin is likely to have numerous bearish corrections. In fact, right now the RSI indicator shows that the digital currency is at overbought levels, which amplifies the probability of a correction.
