Recently, the price of Bitcoin has surged significantly, breaking the $98,000 mark and setting a new all-time high. This rise is mainly attributed to several factors:
Policy Expectations: U.S. President-elect Donald Trump has a friendly attitude towards cryptocurrencies, and the market anticipates that he will ease regulations on cryptocurrencies after taking office, boosting investor confidence.
Institutional Investment: Large institutions, such as MicroStrategy, continue to buy Bitcoin in large quantities, increasing market demand and driving up prices.
Financial Product Innovation: The launch of options trading for the iShares Bitcoin Trust has brought a large volume of trading, further pushing up the price of Bitcoin.
It currently appears that Bitcoin will soon break the $100,000 mark.