Trump supports Bitcoin – forecast of a jump to $100,000

The Price of Bitcoin Surpasses $93,000 with Support from Trump’s Words

The price of Bitcoin reached a new record, briefly exceeding $93,000, before falling to $89,370. However, what distinguishes this particular session is the words of support for digital assets expressed by former United States President Donald Trump.

Trump’s Support and Bitcoin Growth Forecasts

Analysts note that Trump’s statements have a significant impact on strengthening Bitcoin’s growth. They also predict that continued support could drive the price of Bitcoin up to the magical threshold of $100,000.

Warning Against Profit-Taking

Despite optimism about Bitcoin’s future, there is a warning against potential profit-taking. A 33% increase post-US elections may prompt some investors to act swiftly.

Fed’s Interest Rate Cut Forecasts

Inflation data in the USA align with analysts’ expectations, prompting the Fed to forecast another interest rate cut in December, which could further influence the cryptocurrency market situation.

Trump and His Pro-Crypto Promises

Donald Trump has committed to creating a favorable regulatory environment for cryptocurrencies and even establishing a national Bitcoin reserve. These are steps aimed at making the USA a global center for the cryptocurrency industry.

Opinions on Bitcoin Reserve and the Future of Cryptocurrencies

Billionaire Michael Novogratz has expressed doubts about the feasibility of creating a Bitcoin reserve in the USA. However, it’s worth noting that if the plan materializes, the value of Bitcoin could rise to as much as $500,000.

Rise in Cryptocurrency Values and Bloomberg Index

The increase in cryptocurrency values has contributed to higher trading volumes and flows in US Bitcoin ETF funds. As a result, the Bloomberg index, monitoring tradable bonds in USD, had its best month this year.