Bitcoin Soars Past $100,000 as Experts Predict It Could Outperform Gold

Bitcoin has surged to over $100,000 on December 5, becoming a significant milestone in the history of cryptocurrency assets. The price increase followed political changes in the United States, where President-elect Donald Trump nominated cryptocurrency advocate Paul Atkins as the next chairman of the Securities and Exchange Commission. Many market participants have positively perceived this shift in positioning digital assets. Federal Reserve Chairman Jerome Powell classified Bitcoin as a 'digital gold' in a comment, making the narrative about Bitcoin's value storage more credible. Top analysts believe that cryptocurrencies could achieve even more profits, and traders are still paying attention to its motives. The dominance and acceptance of organizations towards Bitcoin In addition, the market capitalization of Bitcoin has recently grown, surpassing silver. This makes it a worthy rival to the dominance of gold. Furthermore, Bitcoin is valued at over 2 trillion dollars, while gold is priced at over 17.9 trillion dollars. This has begun to change due to the high demand from corporations and institutional investors seeking long-term investments. BlackRock, a leading asset management company, is currently overseeing billions of dollars in Bitcoin exchange-traded funds alongside commitments from MicroStrategy, a company that has surpassed $40 billion in its BTC treasury. Analysts in the industry believe that these companies want to take advantage of the scarcity of cryptocurrency, easy storage capabilities, and seamless cross-border transfer abilities. Some see these developments as evidence that Bitcoin is moving closer to established financial systems. Organizations' interest also appears with the hope that the regulations will be more clearly defined. Market observers expect the new SEC leadership to be less biased towards 'enforcement regulation.' They see the new environment as one that can promote the development of blockchain technology in the United States. Forecast shows that Bitcoin will have a significant long-term growth Many analysts have given inspiring estimates for the leading cryptocurrency. In its latest research, Bernstein still expects the price of Bitcoin to reach $200,000 by 2025 due to regulatory clarity and institutional acceptance.

Fundstrat Global Advisors co-founder Tom Lee has put forward an optimistic outlook of $250,000 at the same time. He identified the historical trend related to halving events as the main reason for the expected increase.

According to Ki Young Ju, CEO of CryptoQuant, the actual ceiling level of cryptocurrency could lead to an increase in digital asset prices and raise awareness of the "ceiling level". He believes that Bitcoin could rise to $146,000 before any speculation arises. Technical analysts use Fibonacci expansion levels with a long-term target of around $150,000.