Cryptocurrencies soared due to the Trump effect, and analysts claim that Bitcoin could trade in six figures by the end of 2024. The escalation was immediate, supported by the clear vision of the new US president-elect who, during his campaign, gave great importance to this digital currency, to the point of expressing that the US Treasury could mint it.
Two milestones marked the progress of the community this year. The first one was the officialization of the Bitcoin ETF, a way for traditional banking to validate the virtual asset; the second one was linked to Halving, a moment in which the quantities of this currency were reduced. However, the price explosion that global investors did not cause as much expansion as it has so far.
Bitcoin: why it has no ceiling
Current expectations mark a before and after for bitcoiners because possibly the first power in the world, through a bill drafted by a Republican senator named Cynthia Lummis, will create a strategic reserve of bitcoin. This is how the Federal Reserve (Fed) would buy more than one million bitcoins (5% of the total circulation of the currency) in the next five years.

This initiative became closer given that the Republican Party secured a majority in Congress, which would facilitate its conversion into law. In this way, Trump's promise to turn the North into "the crypto capital of the planet" would be fulfilled. Although to materialize it would have to promote amendments to the Federal Reserve Act and fight institutional resistance.
In this regard, Trump did not hide in campaign that among his first decisions as president would be to replace the current chairman of the Securities and Exchange Commission (SEC), Gary Gensler, appointed by Joe Biden in 2021 and who has led the institution's offensive against the cryptocurrency industry.
Bitcoin: up to how much it will rise in 2024
The voluminous acquisition of bitcoin you are last ten days favored that the market capitalization of the digital asset surpassed that of silver last Monday, rising above u$s1.74 trillion.
In the last 24 hours, the most renowned of the digital currencies behaved unstoppably, scoring new record highs by breaking the psychological barrier of u$s90,000, to advance more than 30% in dollars since Trump's victory in the elections.
Thus, BTC became the eighth asset with the highest value globally. Specifically, experts anticipate that it would seek in the short term to reach the share price of Saudi Aramco, Amazon and Google. And they consider that the accelerated pace of growth of the cryptocurrency could allow it to flirt with approaching the "top 4" made up of gold and the shares of Nvidia, Apple and Microsoft.

Bets on Bitcoin's price do not stop rising, and Peter Brandt, a well-known trader, presented an estimate that the virtual currency could reach u$s125,000 by the end of 2024 . And he completed his prediction indicating that it would be between u$s130,000 and u$s150,000 in the middle of the second half of 2025, provided that the upward trend continues.
Likewise, other cryptoassets are also benefiting from the 'Trump effect'. Ethereum accumulated a rise in the last week of more than 38%, while Solana's share price gained almost 35% and Cardano's was up more than 83%. Likewise, Dogecoin, the 'meme' asset popularized by Elon Musk, one of the main entrepreneurs linked to Donald Trump's candidacy, soared more than 160% in one week.
Crypto impact on Wall Street: which companies swept the board
Wall Street did not behave indifferently to Bitcoin's rise; companies linked to the digital business grew ferociously.
For its part, MicroStrategy, led by Michael Saylor, a great BTC loyalist and adept, was one of the companies that rose the most since the Republican victory. As the largest publicly traded corporate Bitcoin holder, owning approximately 252,220 Bitcoin, any price movement of the digital currency directly affects the firm's share price.

Meanwhile, Coinbase set a new record, which to date had been u$s300 in 2021, the largest U.S. cryptocurrency exchange was one of the main companies that played an important role for measures favorable to the crypto community to be developed.
It was also joined by Tesla, a company that would have a huge boost in its business after Elon Musk's friendship with Donald Trump, and also for keeping digital assets, specifically Bitcoin, as a reservoir within its holdings.
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