Bitcoin, the original crypto has been on a huge rally in the market in recent days. The coin was introduced into the market in 2008 by Satoshi Nakamoto, whose identity is currently unknown. From there, the coin has come so far and is currently the top dog of the crypto world.
As the election ended with Trump being victorious, the forecast is looking extremely good for the famous coin. The coin has broken countless records in the past day including his all-time high. In this article, we will discuss the coin’s current performance in the market, as well as its standing in the years to come.
Bitcoin Current Market Analysis
Bitcoin is currently trading at $74,615.06 in the market. The coin’s price is still rising as the outcomes of the much-awaited election were in Trump’s favor. And Trump being an active Bitcoin only increased its value. If you consider the last 24 hours of the coin, you will find that the coin is on a downward trend of 0.18%. However, if you consider a wider margin like its growth in the past month, you will see a 20.18% increase in the last 30 days.
This may not be much for any other coin. But to a coin with a market value of more than $60K, this is huge. With a circulating supply of 19.78 million, the coin’s market capitalization now stands at $1.48 trillion. With the market trends in favor of the coin following Trump’s victory, the coin is expected to soar in the market in the coming days.
Driving Factor Behind the Bitcoin Rally
As the US Presidential Election concluded with the victory of Trump, the market value of the original cryptocurrency had a huge jump. The price of Bitcoin jumped 8% in 24 hours to surpass $75K creating a new all-time high for it. Currently, the coin fell back a bit and is flirting with the $75K margin.
Not only that, shares of major exchanges like Binance and Coinbase also had a huge jump with almost all the cryptocurrencies trading in it also surging in the market. With Trump’s successful election and his stand on cryptocurrencies, the market is growing at an exponential rate. The famous Billionaire Elon Musk’s public support for Trump was like icing on the cake.
As the election gets set, the coins’ growth in the market has slowed down a bit. However various crypto enthusiasts and market experts are predicting that it will kick back soon.
Bitcoin Price Prediction: What the Future Holds For the Coin
Now that we looked into the coin’s current market standing and the major factor behind its recent uproar in the market, let’s delve deeper into how the coin will fare in the coming years. For this, we have prepared a detailed price prediction. You can refer to it if you’re wondering about the coin’s market value in the years to come.
| Year | Min Price | Avg Price | Max Price |
|---|---|---|---|
| 2024 | $ 76,267 | $ 92,884 | $ 109,501 |
| 2025 | $ 94,967 | $ 135,287 | $ 177,384 |
| 2026 | $ 83,084 | $ 94,686 | $ 106,290 |
| 2027 | $ 76,306 | $ 79,495 | $ 83,832 |
| 2028 | $ 76,257 | $ 116,569 | $ 160,455 |
| 2029 | $ 113,315 | $ 225,134 | $ 305,028 |
| 2030 | $ 162,955 | $ 228,591 | $ 287,841 |
You need to keep in mind that the above-give prices are susceptible to changes in market trends and can vary accordingly.
Bitcoin: a good buy for the future?
Ranked #1 by CoinMarketCap, Bitcoin is the top dog of the market. As Bitcoin continues its rally in the market, it is expected to cross the $76K barrier by the end of this year. As Trump takes charge and proclaims himself as an active Bitcoin enthusiast, the coin’s run in the market is not going to stop anytime soon. The coin is expected to cross its $100K mark by the end of next year.
However, if you’re currently thinking about investing in the coin, it is better to conduct thorough research on the trends in the market and other factors that can significantly affect its price. As the crypto market is a volatile space, you also need to be cautious and mindful of various geopolitical tensions that are rising across the world before proceeding with the investment.
Bitcoin Surpasses $74K For The First Time: A Historic Milestone
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