Bitcoin Surges Past $106,000 Amid Trump Crypto Optimism With Further Highs Predicted

Benzinga 2024-12-16

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Bitcoin surged past $106,000 before settling near $105,000 in Asia trading Monday, marking a record high. The cryptocurrency has rallied over 50% since Donald Trump's November 5 election victory, as his incoming administration signals crypto-friendly policies. Trump has proposed creating a national Bitcoin reserve akin to the U.S. strategic oil reserve, fueling market optimism. Analysts predict Bitcoin may hit $120,000 by year-end, with potential for $150,000 by mid-2025. Trump’s recent nominations highlight his administration’s focus on digital assets. Current SEC chair Gary Gensler plans to resign on Inauguration Day, as Trump prepares to take office.

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