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    Home » Finance » Bitcoin Prices Near $100,000: Should You Invest Now or Wait?
    Finance

    Bitcoin Prices Near $100,000: Should You Invest Now or Wait?

    By Virat VermaNovember 23, 2024
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    Bitcoin Prices Near $100,000: Should You Invest Now or Wait?

    Bitcoin prices hovered around $98,608 on Saturday across international exchanges, buoyed by the excitement over the Donald Trump-led Republican party’s potential return to the White House. With a total market capitalization surpassing $2 trillion, the oldest cryptocurrency has seen a 51% increase in just the past month.

    Optimism is growing that the Trump administration, beginning its second term in January, will implement crypto-friendly policies. The rally gained additional momentum when BlackRock’s spot Bitcoin ETF options were listed on Nasdaq on Tuesday.

    Indian crypto industry insiders are understandably optimistic. Balaji Srihari, Business Head of CoinSwitch, notes, “Bitcoin surged to an all-time high, suggesting that the long-awaited $100,000 milestone could be within reach—many analysts predict this could happen by the end of November. Since the US election, Bitcoin has been consistently breaking records, spurred on by expectations of a more supportive regulatory framework and the possibility of a national Bitcoin reserve that could legitimize Bitcoin as a government-backed asset. BlackRock’s Bitcoin ETF debut on Nasdaq is a major signal of increasing crypto adoption.”

    Other cryptocurrencies have also seen impressive gains. XRP, for example, has surged 188% in the last month, with a 37% increase in just the past five days. Ether is trading at $3,354, and BNB is priced at $665, according to Coinmarketcap data.

    XRP has been a standout, leading the charge with a 25% rise, driven by renewed optimism for a crypto-friendly regulatory environment in the US. Analysts believe Trump’s victory will drive the implementation of policies that support crypto, boosting market sentiment. As trading volumes rise and expectations for ETF approvals grow, the outlook for XRP and the broader cryptocurrency market is extremely positive as we approach the end of the year.

    Also Read- 7 Reasons Why You Should Invest in Crypto in 2024

    Bitcoin’s rally, fueled in part by optimism surrounding Trump’s re-election, marks a pivotal moment for the crypto and Web3 sectors. His administration’s potential support for digital assets could pave the way for more progressive regulations, creating an environment conducive to both institutional and retail investment. The broader crypto ecosystem stands to benefit from policies that promote blockchain infrastructure and provide clearer pathways for financial institutions to engage with crypto.

    Despite these positive developments, crypto experts advise caution. As is typical in bull markets, sharp corrections often follow significant price surges. “Traders should remain cautious amidst the excitement. Large price increases can lead to steep declines, and using excessive leverage can magnify risks during volatile periods,” says Srihari from CoinSwitch.

    “It’s also crucial for investors to stay mindful, conduct thorough research, and avoid making investment decisions based solely on market sentiment or hype,” he adds.

    Cryptocurrency
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