Bitcoin (BTC) surpassed the historic $100,000 level this morning for the first time nearly 15 years after its launch.
BTC has gained over 6% in the last 24 hours and has also reached a market value of $2 trillion for the first time.
At this point, while it is wondered whether the rise will continue, two analysts evaluated the current rise and future price movements.
Speaking to Coindesk, Presto Research investment analyst Min Jung stated that the statements of FED Chairman Jerome Powell and the appointment of Paul Atkins as the new SEC Chairman pushed Bitcoin above $100,000.
“With Powell's positive comment that Bitcoin is digital gold and Paul Atkins' appointment as SEC chairman, BTC finally hits 100k.
Since BTC has long been expected to surpass $100,000, we predict that the rally will continue.
“Furthermore, BTC remains small compared to other macro assets. At this point, Bitcoin's continued growth in market cap will now attract the attention of more large institutions and more investment.”
BTSE COO Jeff Mei also evaluated the rise of Bitcoin and explained his expectations.
“Bitcoin breaking the $100,000 barrier is not just a milestone; it represents a significant moment for the cryptocurrency industry. Confidence is being spurred by an increasingly favorable regulatory environment in the U.S., particularly with the appointment of Paul Atkins as SEC chairman. This is likely to encourage more institutional investment in the sector, give Bitcoin more credibility and lead to a new wave of adoption,” said Jeff Mei.
He said that some think $100,000 is the peak for Bitcoin, but given the on-chain demand and macroeconomic indicators, Bitcoin still has plenty of momentum to push even higher.
*This is not investment advice.