CNBC Analysts Predict Bitcoin to Hit $100K Before January Inauguration

You May Be Interested In:Ex-officer accused of ’emotional and sexual’ relationship with crime victim


  • Analysts predict that Bitcoin could hit $100,000 before Trump is sworn in as president in January 2025.
  • A sharp increase in US investor interest in Bitcoin through spot ETFs, highlighted by a $621 million net inflow, contributes to rising Bitcoin price expectations.
  • Following Trump’s election win, leaders like Ripple’s CEO and Coinbase’s CLO have called for more transparent regulations and a national Bitcoin reserve.

Bitcoin Expected to Hit $100K Before Trump Inauguration Amid Investor Optimism

In a Wednesday crypto market update, CNBC journalist Mackenzie Sigalos reported that BTC might reach six figures before the 47th US presidential inauguration on January 20

This comes soon after Bitcoin soared to new heights upon the news of Donald Trump’s election victory. 

Trump’s re-election boosted investor optimism and contributed to Bitcoin’s price rise. Sigalos explained that the positive reaction in the crypto market is due to investors expecting a more favorable environment for digital assets. She then shared some near-term predictions for Bitcoin’s price.

According to the journalist, many analysts believe Bitcoin could reach $100,000 before Trump takes office in January 2025. This expectation is based on the belief that the market will continue to grow, driven by the outlook for crypto-friendly policies.

The CNBC report matches the price expectations from Copper Research. In its latest market analysis, the firm predicted that Bitcoin would hit $100,000 before Donald Trump took office

This prediction supports the idea that the market will keep growing. Like many other analysts, Copper Research sees Bitcoin soon reaching the $100,000 milestone.

Copper Research linked its price predictions to the growing demand among US investors for BTC through spot ETFs. This demand has risen sharply, with more investors seeking direct exposure to Bitcoin.

Crypto Leaders Hope Trump Administration Brings Regulatory Clarity

On Wednesday, Bitcoin ETFs saw a huge boost, with a net inflow of $621 million, indicating increased investor interest in BTC

Copper Research tested the trend or ETF accumulation against Bitcoin’s likely price. Based on this, the analysts concluded that Bitcoin could hit $100,000 by January 2025. The firm also predicted that US ETFs would hold 1.1 million Bitcoins over the same period.

After Trump’s win, many leaders in the crypto industry felt hopeful, believing he would keep his promises to the sector. For example, Ripple’s CEO Brad Garlinghouse has urged Trump to follow through.

Garlinghouse wants Trump to fire SEC chair Gary Gensler on day one. He also hopes Trump will provide more explicit regulations for the crypto industry, which would help the sector grow and thrive.

Coinbase’s Chief Legal Officer, Paul Grewal, has also called on the President-elect to look into the current regulatory challenges. He wants Trump to urge the SEC to take a friendlier stance toward cryptocurrencies

Grewal believes a more supportive approach would help the crypto industry grow and thrive. He requests that the SEC create transparent and fair rules for crypto businesses.

Optimism grew even more when Senator Cynthia Lummis spoke about the new administration’s plans. She said they would stick to their promises of building a national Bitcoin stockpile.’

In a tweet, Sen. Lummis mentioned that the US government would create a strategic Bitcoin reserve, adding to the $15 billion in Bitcoin it already owns.

CNBC Analysts Predict Bitcoin to Hit $100K Before January InaugurationCNBC Analysts Predict Bitcoin to Hit $100K Before January Inauguration

This boost in confidence has helped drive significant gains for Bitcoin and other altcoins. For Example, Bitcoin hit a new all-time high of $76,460 on Wednesday, while Ethereum (ETH) and Solana (SOL) surged to $2,877 and $191.5, respectively.

At the time of writing, Bitcoin’s price had slightly dropped to $74,761. Meanwhile, Ethereum and Solana are trading at $2,821 and $187.77.

Add Techreport to Your Google News Feed

Get the latest updates, trends, and insights delivered straight to your fingertips. Subscribe now!

Subscribe now

Rida is a dedicated crypto journalist with a passion for the latest developments in the cryptocurrency world. With a keen eye for detail and a commitment to thorough research, she delivers timely and insightful news articles that keep her readers informed about the rapidly evolving digital economy.

View all articles by Rida Fatima

The Tech Report editorial policy is centered on providing helpful, accurate content that offers real value to our readers. We only work with experienced writers who have specific knowledge in the topics they cover, including latest developments in technology, online privacy, cryptocurrencies, software, and more. Our editorial policy ensures that each topic is researched and curated by our in-house editors. We maintain rigorous journalistic standards, and every article is 100% written by real authors.



share Paylaş facebook pinterest whatsapp x print

Similar Content

Enthusiast restores two Sound Blaster 16 cards documenting the challenges of vintage hardware repair
Enthusiast restores two Sound Blaster 16 cards documenting the challenges of vintage hardware repair
Honda to test compact hydrogen system for space exploration on the ISS
Honda to test compact hydrogen system for space exploration on the ISS
AMD Threadripper 9000 Shimada Peak CPUs leak with up to 96 Zen 5 cores
AMD Threadripper 9000 “Shimada Peak” CPUs leak with up to 96 Zen 5 cores
US tech giants announce AI plan worth up to $500bn
US tech giants announce AI plan worth up to $500bn
A New Dawn for Crypto: Regulatory Clarity and Opportunities Post-Election
A New Dawn for Crypto: Regulatory Clarity and Opportunities Post-Election
Microsoft fires engineers over AI protest at 50th-anniversary event
Microsoft fires engineers over AI protest at 50th-anniversary event
Flash News Hub | © 2024 | News