Bitcoin has been on an impressive rise, fueled by hopes that the pioneering cryptocurrency could continue its upward trajectory. Following Donald Trump’s election win, many are betting that Bitcoin could even reach a new milestone of $100,000 before his inauguration.

Since Trump’s victory, Bitcoin has seen a significant surge, reaching an all-time high of over $76,500, driven by optimism surrounding his pro-crypto stance. Bitcoin’s value has jumped by 14% post-election, and the cryptocurrency has doubled in value over the past year.

This increase follows a broader bullish sentiment in the crypto market, spurred by the broader economic conditions under Trump’s leadership.

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The cryptocurrency market had already been optimistic at the start of the year, especially after the U.S. Securities and Exchange Commission (SEC) approved the first-ever Bitcoin exchange-traded fund (ETF) in January.

With Trump’s pro-crypto policies, Bitcoin has found a new ally in the White House, and market analysts believe this could help push Bitcoin’s price to new heights, with some speculating that it might hit $100,000 by the time Trump takes office.

The effects have also been felt in the altcoin market, including meme tokens and decentralized exchange tokens, all seeing increases of over 10% since Trump’s election. These gains reflect the broader market’s excitement about the future under a president who supports cryptocurrency.

One key point is the growing link between Bitcoin’s rise and the “Trump trade,” a term used to describe the correlation between the gains in the bond and stock markets, which has been mirrored in Bitcoin’s growth. Traders from QCP Capital highlighted that Bitcoin has experienced significant growth during past election cycles and anticipates continued bullish momentum into 2025.

Investment firm Bernstein further supports this, projecting Bitcoin could hit $200,000 by 2025. The firm attributes this potential growth to increasing demand for hard assets in response to high debt levels, inflationary monetary policies, and fiscal expansion.

Trump’s victory also brought significant attention to Bitcoin ETFs, with trading volumes hitting record levels post-election. After the Associated Press declared Trump the winner, over $4.1 billion worth of Bitcoin ETFs were traded, signalling growing institutional interest in the asset.

In short, Trump’s election has provided a significant boost to Bitcoin and the broader cryptocurrency market, setting the stage for a potentially explosive rise in Bitcoin’s value as we approach his inauguration.