Amid a surge of funds, Bitcoin's rally has been fierce, frequently setting new highs. Today (11th), it once broke $81,600, reaching a new all-time high. Analysts at Standard Chartered expect this Bitcoin rally is far from over, with a potential continued rise before the end of the year, easily breaking the '100,000 dollar' barrier, with a peak projected at $125,000.
According to CoinGecko market data, as of the time of writing, Bitcoin is priced at $81,266, having risen over 5% in the past 24 hours; Ethereum is up 1.5% to $3,190; Solana (SOL) is up 3.5% to $209.75; and Dogecoin (DOGE) has soared over 28% to $0.2901.
Geoff Kendrick, Global Head of Digital Asset Research at Standard Chartered, stated that the outlook for Bitcoin by the end of the year looks promising, and it should 'easily' break $100,000 before the options expiration on December 27. He added:
My prediction for Bitcoin reaching $125,000 by the end of the year remains unchanged, but if it does not achieve this before December 31, it is likely that Bitcoin will surge to this target price around January 20, right before Trump takes office.
Solana is 'highly likely' to break its historical high.
Not only is Bitcoin strongly rising, but this rally has also allowed other cryptocurrencies to thrive. Geoff Kendrick further mentioned that he believes Solana (SOL) is 'highly likely' to break its historical high before the end of the year and may even outperform Bitcoin.
SOL is sure to set a new high by the end of this year (the historical high in November 2021 was $260), while Ethereum may have to wait until the new government officially takes office to have a chance to break the $4,866 high set in November 2021.
After Trump's victory, the cryptocurrency market is in a frenzy. Charles Hoskinson, founder of Cardano (ADA), recently stated on a podcast that he will actively seek favorable cryptocurrency policies from the Trump administration and mentioned having certain connections with insiders in the government, hoping to participate in policy discussions in the future. This statement motivated ADA to surge over 35%.
Geoff Kendrick predicts that as Bitcoin's popularity drives the rise of other currencies, the total market value of the cryptocurrency market is expected to continue to climb.
I believe that as the application scenarios for cryptocurrencies continue to increase, the total market value of crypto assets could reach $10 trillion by the end of 2026.
"Bitcoin fires on all cylinders, breaking $81,000! Standard Chartered: 'The $100,000 barrier is within reach'" This article was first published on (Blockke).
