Bitcoin Price Surges Above $96,000, Investors Eye $100,000 Milestone

ecord highs since the presidential election on November 5th, with an impressive 38% increase in value. Just last Friday, it soared to almost $100,000 before experiencing a slight dip this week, testing the $90,000 support level.

Experts believe that the current bitcoin bull market still has room to grow. Alex Thorn, from Galaxy Digital, mentioned that despite some potential regulatory actions from the outgoing Biden administration, the increasing institutional and corporate adoption, along with a pro-bitcoin stance from the incoming administration, point to higher prices in the near future.

Katie Stockton from Fairlead Strategies noted that bitcoin is in uncharted territory in terms of resistance, with no clear barriers at the moment. Support is currently around $74,000, and she advises investors to be prepared for volatility and give the cryptocurrency room to grow.

Bitcoin has seen a remarkable 124% increase in value this year and is on track to reach the $100,000 milestone before the end of the year. Ether, on the other hand, has gained 55% year-to-date, trailing behind bitcoin.

As the crypto market continues to evolve, it’s essential to stay informed and monitor these digital assets closely. With bitcoin on the rise again, investors are eagerly eyeing that $100,000 mark as we head into the holiday season.