Bitcoin Achieves Groundbreaking $100,000 Milestone, Experts Forecast $120,000 Soon
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New Delhi, Dec 5 (NationPress) The world's premier cryptocurrency, Bitcoin, has achieved the landmark of $100,000 per unit, propelled by favorable market conditions, enhanced regulatory clarity in the US, and institutional investments via Bitcoin ETFs, experts noted on Thursday.
Bitcoin was trading at $103,095, reflecting a rise of 4.39 percent. Vishal Sacheendran, Head of Regional Markets at Binance, stated that the cryptocurrency market is seeing a wave of optimism as governments and institutions globally start to adopt blockchain technology, laying the groundwork for wider acceptance and investment in digital assets.
“This surge in enthusiasm signifies a maturing ecosystem ready for lasting growth,” he remarked.
Conversations surrounding a US Strategic Bitcoin Reserve and the integration of corporate treasuries indicate a trend towards mainstream acceptance.
“The upcoming year holds the promise of improved regulatory structures, increased transparency, and innovations in DeFi, tokenized assets, and blockchain interoperability, setting the stage for a more inclusive global economy,” Sacheendran added.
Rahul Pagidipati, CEO of ZebPay, mentioned that Bitcoin is now effectively among the top 10 most valuable assets worldwide, surpassing all commodities except gold and outpacing most companies.
“The total capitalization of the crypto market has also exceeded $3.5 trillion, showcasing the level of interest and widespread acceptance in the sector,” he stated.
Nigel Green, CEO of deVere Group, had predicted over a month ago that Bitcoin would reach $100,000 following Donald Trump’s re-election and his imminent inauguration as the 47th President of the United States.
“I anticipate that Bitcoin could hit $120,000 in the first quarter of 2025 as the rally continues to gain momentum,” he forecasted.
“The increasing narrative of Bitcoin as digital gold is becoming impossible to overlook. It is increasingly seen as a safeguard against inflation and a tool for diversifying portfolios. Institutional interest has reached unprecedented levels, and the infrastructure supporting mass adoption is continually evolving,” Green explained.
The recent surge in Bitcoin’s value can be attributed to several factors. Firstly, the political alignment of a pro-crypto administration is rejuvenating market confidence. Secondly, the current economic landscape, characterized by potential inflationary pressures, has attracted both institutional and retail investors to alternative assets.
