Bitcoin traders are eagerly anticipating the next milestone of $100,000 as the cryptocurrency’s price continues to surge. Analysts believe that before reaching this level, there may be a period of consolidation in the market.
Bitcoin (BTC) has been on a bullish run following President-elect Trump’s victory and the Federal Reserve’s expected interest rate cut of 25 basis points on Thursday. However, there are some concerns regarding a potential short-term pullback due to Trump’s proposed tariffs on China and mounting fiscal issues such as the rising national debt.
Alex Kuptsikevich, senior market analyst at FxPro, stated that BTC is currently “defending its top” and that the recent all-time highs have sparked a strong growth trend. Kuptsikevich believes that Bitcoin has the potential to reach $100,000 to $110,000 within the next 2-3 months without experiencing any significant downturns.
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