Bitcoin's Meteoric Rise: $100K Milestone in Sight

Bitcoin Price Surge and Predictions

Bitcoin (BTC) has recently hit a new high of $86,720.11, marking a 15.98% increase. This surge has brought Bitcoin just 17% away from the $100,000 mark, a milestone analysts predict could be reached before the end of 2024, influenced by Trump's presidential victory.

Ethereum (ETH) also saw a significant rise, reaching $3,293.14, up by 21.04%. The bullish trend in the cryptocurrency market is evident, with Bitcoin breaking records and entering uncharted territory.

Key news highlights include Bitcoin's price gains ruling out significant pullbacks before hitting $150K, and traders predicting BTC to reach $125K by New Year's Eve based on Bayesian probability. Polymarket bettors see a 60% likelihood of Bitcoin crossing $100K this year.

MicroStrategy's Bitcoin portfolio has surpassed $20B, with an ROI over 100%, further fueling market optimism. Analysts forecast Bitcoin's price to continue its upward trajectory, potentially hitting $1M in the future.

As Bitcoin's price nears $85,000, the market is experiencing extreme greed and euphoria, with retail investors re-entering the market. The ongoing rally has pushed Bitcoin into price discovery mode, with new highs anticipated by year-end.