Driven by institutional adoption and potential policy changes from the new government, the price of Bitcoin has surpassed the $100,000 mark.
After a period of adjustment, Bitcoin finally breaks through the $100,000 mark: Yesterday’s video provided the suggestion to place a long order at 94,800: this long order has been successfully executed: also a reminder that it will continue to challenge historic highs: you can check yesterday's video replay to see.
Bitcoin reaching the coveted $100,000 price level is a testament to the evolution of the cryptocurrency investment landscape. At the beginning of this year, Bitcoin's price was around $44,000, with an annual increase of over 120%. This significant price movement demonstrates the supply and demand dynamics, underpinned by growing institutional interest and acceptance. Experts note that after the approval of the Bitcoin ETF, this asset gained unprecedented appeal among traditional investors.
In January this year, the U.S. Securities and Exchange Commission (SEC) approved the spot Bitcoin ETF, marking a turning point that enables previously hesitant institutional investors to seamlessly invest in the cryptocurrency space. This policy development not only enhances Bitcoin's legitimacy but also opens the door for capital inflows from institutions that have traditionally been cautious about cryptocurrencies. Investment giants like Goldman Sachs have begun to incorporate Bitcoin into their portfolios, indicating a growing acceptance of Bitcoin within the financial industry.
Former President Donald Trump's recent electoral victory has injected new optimism into the cryptocurrency space. Throughout the campaign, Trump has been a fervent supporter of the crypto industry, promising to create a positive environment for crypto mining and pledging to establish Bitcoin reserves. Investors hope that his return will bring a more favorable regulatory environment, as opposed to the strict regulatory stance of the previous administration.
With President Biden’s SEC Chairman Gary Gensler stepping down and Trump nominating Paul Atkins, a shift in regulatory attitude is anticipated. A Republican-led SEC may embrace innovation in the financial sector rather than impose restrictive regulations. This expected shift has sparked speculation that the crypto industry may enter a 'golden age' characterized by reduced regulatory friction and increased growth opportunities.
The trajectory of Bitcoin's development indicates that it is not just a speculative investment but represents a broader acceptance of decentralized finance. With increasing institutional participation, Bitcoin is transforming into a global financial asset. The recently approved Bitcoin ETF may pave the way for more complex financial products in the crypto space, such as Bitcoin futures and options, further solidifying its position in traditional markets.
In summary, Bitcoin's breakthrough of $100,000 indicates that the integration of political, regulatory, and market dynamics is conducive to its continued growth. As the cryptocurrency landscape evolves with potential governance changes, investors are poised to capitalize on emerging opportunities, ensuring that Bitcoin remains a focal point for both individual and institutional investors. Investors should stay updated on developments and focus on ongoing progress, as Bitcoin's future looks increasingly bright.
Today's intraday trading suggestions
If it rises, then place a short order at 105,500 for Bitcoin: risk control of 1,000 points: target 2,000-3,000 points
If it drops, then place a long order at 100,500: risk control of 1,000 points: target 3,000-4,000 points: be prepared for gradual profit-taking
Still patiently holding spot positions
