Recently, Bitcoin has reached a new high again, with the price rising from $103,000 all the way to $108,000. Although it has now fallen back to $106,500, it is still at a relatively high level. This surge is largely related to the expectations of an upcoming interest rate cut by the Federal Reserve. Typically, before each interest rate cut by the Federal Reserve, Bitcoin tends to rise, and after the cut, the increase in Bitcoin's price is often even more pronounced. Based on this trend, Bitcoin may not be far from $110,000 or even $150,000.
Currently, the price trend of Bitcoin is no longer solely dominated by retail investors; more and more large institutions and publicly traded companies are driving the rise of Bitcoin. For example, the CEO of MicroStrategy recently spent $1.5 billion to purchase 15,350 Bitcoins at a price of $100,386 each. This action is also one of the reasons for the strengthening of Bitcoin's price. Each time institutions buy a large amount of Bitcoin, it usually drives the price of Bitcoin to continue rising.
This also indicates that many institutions now believe that Bitcoin's price is just getting started. Even though its price is already high, they remain optimistic about its future upward momentum.
