Monday, December 16, 2024, marks a special day in the Crypto Market.The Bitcoin price has risen to a historic high of US$106,495.
Key points
Several main reasons have contributed to this historic price increase:
1. President-elect Donald Trump's pro-crypto policies
2. Proposal to establish a national bitcoin reserve
3. Appointing pro-crypto individuals like David Sachs Atkins to key positions
Market impact
With this growth, the total Crypto Market value has increased to US$3.8 trillion, and Bitcoin's annual return is 192%.
Institutional Impact
• VanEck: Projects Bitcoin to reach $180,000 by 2025
• MicroStrategy: Added to Nasdaq 100 index
• Federal Reserve: Expected rate cut announcement on December 17-18
Individual Perspectives
• Tim Draper: Forecasts $250,000 by end of 2025
• Paul Howard (Wincent): Indicates strong buy signals based on major moving averages
• Eswar Prasad (Cornell University): Predicts favorable regulatory environment
Analysts point out that this development marks the beginning of a new era for the global crypto market.
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