Bitcoin is on track to hit the $100,000 price milestone by the end of the year after President-elect Donald Trump’s election victory, according to analysts. James Butterfill, head of research at CoinShares, said a price rise to $100,000 — which would imply 33% upside — “is possible now,” as Trump’s presidential win and the Republicans’ new majority in the Senate is likely to make it easier to push through a “relaxed anticipated regulatory framework.” Bitcoin at $100,000 “doesn’t sound so unreasonable” given it equates to “just 10% of gold’s market share,” Butterfill told CNBC in emailed comments. Trump, who on Wednesday beat Vice President Kamala Harris to win the 2024 U.S. election, had promised several pro-cryptocurrency…
Nov 08 2024
