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Bitcoin sky rocketing to $107,000, smashing through all-time highs, cranks up excitement among all crypto speculators. The announcement came just after President-elect Trump voiced an aspiration to set up a U.S. bitcoin strategic reserve for this phenomenon. Such has added momentum to the now-forthcoming entry of MicroStrategy into the Nasdaq 100 index, sending bullish sentiments soaring and powering Bitcoin and other cryptocurrencies even higher. With these developments under the watchful eyes of the market, Bitcoin’s bullish trend has been quite relentless thus far.
Latest Record
Bitcoin reached $107,000 on Monday amid news that President-elect Trump intended to create a U.S. bitcoin strategic reserve, sending crypto bulls into excited raptures and fueling investor optimism.
Inclusion of MicroStrategy into Nasdaq 100 index
Investor sentiment became even more exuberant with the addition of software firm turned bitcoin buyer to the Nasdaq 100 index. More inflows may be expected into the currency, which could help escalate the cryptocurrency market.
Bitcoin, the world’s largest cryptocurrency, continued to advance to a session high of $107,148. It was recently at $106,877, up 5.43% from late Friday. Ether, the No. 2 digital currency, also advanced 1.85% to $3,975.70.
Market Analysts’ Optimism
“We’re in blue sky territory here,” said Tony Sycamore, an analyst at IG. “The market will now look for $110,000. The pullback many expected didn’t happen because of this news.”
International Interest in Bitcoin Reserves
Other countries, such as China, UK, Bhutan, and El Salvador, also hold significant amounts of bitcoin. Russian President Putin criticized the role of the U.S. dollar, which led many countries to alternative assets such as cryptocurrencies.Bitcoin bull run is now going
Federal Reserve’s View About Bitcoin
Federal Reserve Chairman Jerome Powell described bitcoin as analogous to gold. Analysts note that it may take considerable time to create a strategic BTC reserve, but the market can feel its influence. Bitcoin bull run is best for invest now
Bitcoin Breakout Post Trump Election
Bitcoin has gained more than 50% since election day of Trump. A total cryptocurrency market value increase by almost double this year to more than $3.8 trillion has now hit an all-time high underlining the impact of this nascent industry. this time is Bitcoin bull run
Digital Assets for Trump
Trump campaigned for embracing digital assets, stating the U.S. would become the “crypto capital of the planet.” He made David Sacks White House czar for AI and cryptocurrencies and plans to nominate Paul Atkins to head the SEC.
MicroStrategy Plays a Significant Role
MicroStrategy entered the Nasdaq-100 Index, according to Nasdaq, on Dec. 23. CEO Michael Saylor heads MicroStrategy. It is currently the biggest corporate holder of bitcoin. MicroStrategy is one of the key participants in the cryptocurrency market.
Analyst Insights on Market Trends
“It is somewhat of an unexpected inclusion, but has certainly been an exciting move,” said Matthew Dibb, CIO at Astronaut Capital. “This will likely cause the spot price of bitcoin to increase and create a positive feedback loop.”
MicroStrategy Stock Up 4.2% on Monday
Shares in MicroStrategy are up 4.2% on Monday following the positive news for investor confidence. The Nasdaq 100 index addition further boosts the overall outlook on bitcoin.
Bitcoin Remains in Bull Run
Future Market Projections
“We’re in blue sky territory here,” said Tony Sycamore, an analyst at IG. “The market will now look for $110,000. The pullback many expected didn’t happen because of this news, reinforcing bullish sentiment.”
