bitcoin: Bitcoin’s price soars again; experts suggest it could reach $1 million by year end
President Donald Trump’s policies have brought a new revolution in the market, turning tables for crypto. It will be interesting to watch the future growth bar of Bitcoin as Trump will soon host the first crypto summit in his second term.
Bitcoin price today in market
Bitcoin has crossed the $90,000 limit this week, paving way for its future growth. In fact, to everyone’s surprise, the cryptocurrency is witnessing a rise of nearly 10 percent within hours, marking a rollercoaster week for the markets.
President Donald Trump could be rightfully credited for this unexpected jump. As per his commerce secretary, Howard Lutnick, Trump will unveil a strategic bitcoin reserve during his first crypto meet.
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What is expected at the first crypto meet
Friday, March 7, will see the first crypto meet of US President Donald Trump in the White House. The much-awaited meet-up will witness the presence of several industry leaders and market stalwarts. The leaders will probably discuss the benefits of digital assets for the Trump 2.0 administration. With expectations regarding higher valuation of cryptocurrency in the near future, there could be exponential growth for Bitcoin in the coming weeks.
Experts’ opinion on Bitcoin price
Market experts have shared their suggestions and opinions on the ongoing market valuation in accordance with Trump’s policies. Arthur Hayes, crypto influencer and chief investment officer at Maelstrom, believes that the upcoming decisions on Friday may further devalue the dollar, while increasing the price of digital assets, especially cryptocurrency.
In his January prediction, he opined that the value of Bitcoin may initially fall with the value of the dollar. However, he had belief in the potential of the cryptocurrency as investors start investing in digital assets. “Let politicians do politician things, stay in your lane, and buy Bitcoin,” Hayes said.
Trump’s Sunday missive about his planned national crypto reserve paved the way for Bitcoin’s to hit $500,000.
Meanwhile, Geoffrey Kendrick from Standard Chartered’s team said that with the meet on Friday, White House has already signaled about its plan for digital assets.
On the other hand, analysts from Bernstein suggest that Trump’s plans for bitcoin reserve may push the asset’s price to cross the $200,000 mark over the next 12 to 18 months.
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FAQs
- What is Bitcoin
Bitcoin or BTC is the first decentralised cryptocurrency. It was invented in 2008, while its usage began in 2009.
- Which cryptocurrencies does Trump want to stockpile in reserve?
In a post on Truth Social, Trump has announced plans to create a stockpile of digital assets, which will include XRP, SOL and ADA currencies, later adding bitcoin and Ether to the list.
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