Bitcoin hits $100,000 milestone level as Trump-fueled rally reaches new heights

Published On Dec 4, 2024, 9:59 PM

Bitcoin has hit a significant milestone of $100,000, driven largely by positive investor sentiment surrounding the incoming Trump administration, which is expected to foster a more crypto-friendly regulatory environment. The optimism is particularly linked to the appointment of Paul Atkins as the new SEC chairman, a known advocate for cryptocurrencies. Bitcoin's price surged over 40% since Trump's election, and investors are now cautious about potential selling pressure as Bitcoin approaches this key psychological level.

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Stock Forecasts

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MicroStrategy, which has heavily invested in Bitcoin, could see positive momentum reflecting Bitcoin's rise. Its stock often trades in correlation with Bitcoin prices, potentially attracting more investor interest amidst the rally.

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The anticipated acquisition of Bakkt by Trump Media may provide additional support for cryptocurrency markets, enhancing trading volumes and investor confidence in crypto platforms' growth potential.

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