The boldest prediction! BTC will rise to $800,000 next year

Original Ma Lan Cai Lian Society
December 16, 2024, 16:30, Shanghai, 233 people
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After the news that US President-elect Trump may announce the establishment of a cryptocurrency reserve after taking office, BTCrise reached a new high of $106,000, which has also ignited the enthusiasm of more cryptocurrency enthusiasts.

BTC has risen nearly 8% this month, and has risen a total of 50% since the US presidential election. It has risen a total of 145% this year. But this is not the end. ARK Investment Management, led by Cathie Wood, predicts that the price of BTC at the end of the year will be between $124,000 and $150,000.

Many analysts on Wall Street have adjusted the BTC price to above $100,000. However, most people are skeptical about the possibility of BTC reaching $250,000 by the end of the year. On the betting platform Polymarket, the odds of BTC reaching $250,000 are only 25%.

However, some analysts are even bolder. Perianne Boring, CEO of the Digital Chamber of Commerce, a cryptocurrency lobbyist, boldly shouted the slogan that BTC will surpass $800,000 next year.

Boring indicates that based on Trump's future policies, the value of BTC may approach $1 million or even higher. According to his model, by the end of next year, the price of BTC will exceed $800,000. If Trump adopts some suggestions from the crypto industry, then the price of BTC will be unlimited, and the limited supply of the currency will also push up the price due to its scarcity.

Multiple benefits
During his campaign, Trump promised to protect and develop the digital asset industry in the United States. In addition, he promised to dismiss Gary Gensler, the chairman of the U.S. Securities and Exchange Commission who is hostile to the crypto industry, and to cancel some policies that hinder crypto investors and companies from trading crypto assets.

After Trump's victory, Gensler has announced that he will resign in January next year.

In addition to these friendly commitments, Trump also announced the suspension of the US government's plan to sell BTC on the open market, and instead use BTC as an investment holding asset. And this commitment is the biggest driving force behind the rise of BTC in this round.

At the same time, the Fed is expected to cut interest rates by 25 basis points this week, which has also had a positive impact on the price of BTC. The Fed will conclude its policy meeting on Wednesday, with the market currently expecting a 96% likelihood of a 25 basis point rate cut.