The Turbulence and Opportunities of Bitcoin's $100,000 Milestone
Bitcoin, like a brave adventurer, is making its way towards the peak of $100,000, but as it approaches, it encounters a slight fluctuation! On Sunday, Bitcoin's price briefly fell to $95,776, just $300 away from breaking the $100,000 mark. However, market sentiment quickly warmed up, and the price rebounded to $98,065 on Monday morning, all thanks to Trump's nomination of hedge fund manager Scott Bessent as U.S. Treasury Secretary, injecting a shot of adrenaline into the global market.
Matt Maley, Chief Market Strategist at Miller Tabak + Co, noted that investors feel a bit anxious about Bitcoin's upward trend, believing that the current momentum might need a slight breather. He pointed out that the current bullish strength is nearing its peak, but Trump's impending presidency is seen as positive news for cryptocurrencies. Since his election, Bitcoin's market value has astonishingly increased by about $1 trillion.
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