Kapanlagi.com - In a shocking move, the price of Bitcoin has recently surged high, breaking records by reaching a fantastic value of USD 102,888, equivalent to IDR 1.6 billion! This surge is not unrelated to the positive sentiment enveloping the market, triggered by the victory of the elected US president, Donald Trump, known for his support of crypto-friendly policies. Investors are increasingly optimistic that this support will bring Bitcoin onto a more mainstream path in the financial world.
In recent weeks, Bitcoin has experienced an increase of over 40%, signaling a strengthening momentum in the crypto market. This trend is not only attracting the attention of institutional investors but also showing the expanding adoption of blockchain technology across various sectors. However, behind this euphoria, there are still controversies regarding energy consumption and regulatory risks that continue to be in the spotlight.
So, how did this price movement of Bitcoin actually occur? This article will review the key steps that influenced the rise in Bitcoin's price towards this new record.
Bitcoin marked a historic milestone by surpassing the psychological figure of USD 100,000 on December 5, 2024, an achievement that reflects a significant price surge since the beginning of the year, driven by very positive market sentiment.
At the New York Times DealBook Summit in Manhattan, Federal Reserve Chairman Jerome Powell acknowledged Bitcoin as an important asset comparable to gold, a recognition that further strengthens the position of cryptocurrency in the eyes of the public.
The emerging support from the newly elected Trump administration, which plans to implement pro-crypto policies, has also become a major catalyst for this trend.
U.S. President-elect Donald Trump has firmly expressed his support for digital assets, announcing his plan to appoint Paul Atkins, a crypto advocate, as Chairman of the SEC.
This bold move not only boosts investor confidence in more stable regulations for cryptocurrencies but also solidifies hopes that the United States will become a global crypto hub in the future.
Institutional adoption has now become the main driver behind the surge in Bitcoin prices, with bold moves from giants like BlackRock launching a Bitcoin ETF and attracting impressive new inflows of funds.
Since its debut earlier this year, over USD 4 billion has flowed into this ETF, signaling that institutional investors are beginning to view Bitcoin as a promising asset for long-term growth.
Although Bitcoin prices are soaring, the cryptocurrency is not without sharp scrutiny. Concerns about skyrocketing energy consumption and its involvement in illegal activities still haunt its reputation on the global stage.
Moreover, several analysts are also warning of the possibility of a drastic price correction in the near future, making investors extra cautious in every step of their investment journey.
With great enthusiasm, analysts are now predicting that Bitcoin could soar to a fantastic figure of USD 120,000 before the year ends.
However, the wave of market volatility remains a challenge that must be faced.
Investors and speculators continue to closely monitor every step of regulatory developments and technological advancements in the crypto world.
Donald Trump's victory, which promotes pro-crypto policies, along with the launch of Bitcoin ETFs, has created a wave of optimism that has shaken the market, igniting new hopes for investors and enthusiasts of digital currency.
Institutional adoption has shaken the market by bringing in a flood of funds, creating a wave of high demand and fostering an increasingly strong confidence in Bitcoin.
Although many analysts show exuberant optimism, we cannot ignore the reality that market volatility and regulatory challenges remain threats to be wary of.
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