THE BULL MARKET IS BACK

Will Bitcoin reach $100,000 by 2024?

I have the answer ..

Today Bitcoin reached another all time high of $79,000.

This has sparked a wave of excitement and cautious optimism in the financial markets. This surge comes at a time when the U.S. has seen a political shift with Donald Trump's re-election, whose positive stance on cryptocurrencies has contributed to this bullish market sentiment.

The political landscape appears to have directly influenced Bitcoin's valuation. Trump's victory has been interpreted by many in the crypto community as a sign of forthcoming regulatory leniency, which could foster a more conducive environment for Bitcoin and other digital currencies. This has led to increased investor confidence, with many seeing this as the beginning of a new "supercycle" for Bitcoin, characterized by prolonged upward price movements.

However, this enthusiasm is not without its caveats. The market is known for its volatility, and despite the current high, there's a consensus among analysts that the rapid ascent could easily be followed by significant corrections.

Market fundamentals seem robust with the price surge backed by real demand, highlighted by the strong interest in Bitcoin ETFs, a potential supply shock in the spot market, and broader economic conditions favoring risk assets. Experts predict Bitcoin could hit even higher milestones, others warn of the possibility of a downturn, emphasizing the need for a balanced perspective on this volatile asset's trajectory.

In summary. We are currently in a bull market which could see Bitcoin surpass $100,000 this year.