Bitcoin is on a roll—again. 

The biggest digital coin was soaring by the time traditional markets opened Monday morning. By midday New York time, it had already broken record after record. 

Now, Bitcoin’s price has already popped above $88,000 per coin, according to CoinGecko, after having shot up 10% in the past 24 hours. Over a seven-day period, the asset has jumped 30%. 

Some analysts told Decrypt that it still has a long way to go due to hype around the election and subsequent Trump trade. 

“We would argue that prices could rise further given we have a combination of positive political momentum, social media hype, a continuation of interest rate cuts and the prospects of Bitcoin becoming a strategic reserve asset in the U.S.,” CoinShares Head of Research James Butterfill said. 

He added that Bitcoin touching $100,000 sooner rather than later wasn’t unlikely—as such a target would reflect just 10% of gold’s market share. 

Go to Source to See Full Article
Author: Mathew Di Salvo