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

• 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.

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.