BTC/USD: Bitcoin Hits New Record Above $107,000. Is $125,000 Possible by End of 2024?

Analysts are speculating that the price of Bitcoin could actually soar to $125,000 still this year thanks to the Trump pump.

• The Bitcoin BTCUSD surge continued on Monday with prices blasting above $107,000 per coin as traders’ enthusiasm over a Bitcoin strategic reserve fueled a new leg up. The red-hot rally is built upon the conviction that President-elect Donald Trump will go above and beyond in his efforts to help the crypto industry — and even get the federal government involved as a buyer of the OG token. A heavy buyer, that is.
• Trump has unveiled plans to whip up a strategic reserve with the mission to acquire 1 million Bitcoin over a five-year time span. The goal is to diversify the government’s assets and make the US the leading authority in the crypto world, or the “crypto capital of the world,” in Trump’s words. In a recent interview with CNBC’s Jim Cramer, Trump didn’t rule out the prospects of having this reserve created as a safe place for Bitcoin.
• “We’re gonna do something great with crypto because we don’t want China, or anybody else … but others are embracing it, and we want to be ahead,” the President-elect said in response to Cramer’s question on a BTC reserve. And with that, many analysts are calling for more growth and more pump by the end of the year with the potential target of $125,000, which is currently 17% away. Bitcoin has added a whopping 50% since Election Day, Nov. 5.