The cryptocurrency market seems to be regaining its lost appeal. The original cryptocurrency Bitcoin (BTC) has reclaimed the $101,000 level. BTC is up 2.7% on the daily chart, 10.3% on the weekly chart, 8.1% on the 14-day chart, and 1.9% over the last month. The largest cryptocurrency by market capitalization has also risen 131.7% since January 2024.
Why are cryptocurrency markets rising today?
BTC’s latest rally may be aided by the upcoming inauguration of President-elect Donald Trump. Trump’s pro-crypto stance has led many to believe that we will experience a long bull run during his term. The president-elect has stated that he wants to make the United States a cryptocurrency hub.
The rise in Bitcoin (BTC) could also be due to Microstrategy’s purchase of another 1,070 BTC for $101 million. The company is one of the largest BTC holders. The company’s CEO, Michael Saylor, is very bullish on the asset.
Will Bitcoin break through $140,000 next?
According to CoinCodex, BTC will continue to rise in the coming months. The platform expects BTC to hit a new all-time high of $143,218 on March 30, 2025. In terms of currency price levels, reaching $143,218 will bring an increase of about 40.5%.
Changelly’s prediction for Bitcoin (BTC) is more conservative. The platform predicts that BTC will trade at a potential maximum price of $110,845 in March 2025. Reaching $110,845 from current price levels would represent an increase of about 8.8%.
BTC may eventually break the $200,000 mark this year. The Trump administration may provide a viable environment for the crypto industry to flourish. We may see the birth of many new crypto-based financial products. In this case, BTC may reach unprecedented price levels.
