"Bitcoin Set to Reach $100,000 by January as Donald Trump Assumes Office"

New Delhi (The Uttam Hindu) : Bitcoin, the world’s largest cryptocurrency, is on track to hit $100,000, driven by President-elect Donald Trump’s pro-crypto stance and promises of clearer cryptocurrency regulations. On Tuesday, Bitcoin was priced at around $87,880 per coin, marking a surge of nearly 30% since the US presidential election. According to Nigel Green of deVere Group, "Bitcoin could reach $100,000 by the end of January 2025, following Trump’s inauguration." This bullish forecast follows a staggering 93% rise in Bitcoin’s price year-to-date. Green believes this is just the beginning, with the cryptocurrency poised to break even more records under a Trump administration. “President-elect Trump’s crypto-friendly policies signal a transformative period for Bitcoin and the wider digital asset market,” he said. Trump’s administration, according to Green, is expected to offer constructive regulation for cryptocurrencies and elevate Bitcoin as a strategic asset class. “This is the most significant boost Bitcoin has received since its creation,” he added. With inflation concerns rising amid potential economic policy changes, Bitcoin’s role as a hedge against diminishing cash value is gaining traction.

While inflation pressures have eased recently due to global rate cuts, Trump’s ambitious spending plans and possible tariffs could quickly reintroduce upward price pressures. This inflationary environment is prompting investors to turn to Bitcoin as a safeguard against decreasing purchasing power, according to Green. Raj Karkara, COO of ZebPay, also highlighted that with more investors flocking to Bitcoin, the momentum is likely to continue. “This milestone moment underscores Bitcoin’s resilience and further cements its appeal in the financial markets,” he said. Vishal Sacheendran, Head of Regional Markets at Binance, emphasized that clearer regulations and a friendlier stance toward crypto businesses could boost investor confidence and accelerate innovation and adoption of virtual assets. However, he also cautioned, "In a bull market like this, investors must remain cautious, do their due diligence, and not make decisions based solely on market sentiment or hype."