Bitcoin
price (BTC) reached new unprecedented heights on Monday, surging beyond $106,000
as President-elect Donald Trump’s proposal for a national cryptocurrency
reserve ignited a fresh wave of enthusiasm in digital asset markets.
In the
meantime, VanEck presented its newest Bitcoin price prediction, forecasting the
oldest cryptocurrency will reach $180,000 in 2025.
The world’s
leading cryptocurrency jumped to $106,533 in early trading on Monday, December
16, 2024, marking a watershed moment for the digital asset class. The rally
extends bitcoin’s remarkable year-to-date gain to 192%, with the total
cryptocurrency market value swelling to $3.8 trillion.
The rally
began on Sunday, December 15, 2024, when the price of BTC surged by 3%,
reaching $105,250. Although Monday’s gains have mostly been corrected at the
time of writing, Bitcoin remains at a record-high price of $104,583.
Why is Bitcoin surging today? Source: CoinMarketCap
Trump’s
pivot toward cryptocurrency policy has electrified markets. “We’re gonna
do something great with crypto,” the President-elect told media,
expressing intentions to establish a strategic bitcoin reserve comparable to
the nation’s oil stockpile.
The
announcement represents a dramatic shift for Trump, who previously dismissed
cryptocurrencies. His administration’s pro-crypto stance, including the
appointment of David Sacks as White House cryptocurrency czar and…
