"Around President Trump's Inauguration..." Bitcoin's 'Bold Forecast'

Approaching the $100,000 Mark Amid Santa Rally

Bitcoin is moving in the high $90,000 range, preparing to break its all-time high again. There is also an analysis suggesting that it could surpass $140,000 around the inauguration of Donald Trump, the President-elect of the United States, next month.

On the 26th, at 9:05 AM Korean time, Bitcoin was trading at $99,682.94, up 2.03% from 24 hours ago. On this day, which was Christmas (25th) in U.S. time, Bitcoin was moving in the $98,000 to $99,000 range.

Bitcoin, which started its rally after the U.S. presidential election (November 5, local time), surpassed $100,000 for the first time on the 5th of this month. On the 17th, it hit an all-time high of $108,309. The rise was fueled by the incoming pro-cryptocurrency government, as President-elect Donald Trump promised to actively foster the cryptocurrency industry and ease regulations during the election period.

With a favorable environment for cryptocurrencies being created, some analysts suggest that Bitcoin could hit a new all-time high around January 20, when President-elect Trump is inaugurated. Cryptocurrency research firm K33 stated, "Analyzing the last three Bitcoin cycles, it took an average of 318 days for Bitcoin to reach an all-time high in each cycle," and claimed, "In this cycle, since the all-time high was recorded on March 5, Bitcoin will peak again on January 17 next year." Based on the previous cycle's all-time high, Bitcoin is expected to soar to $146,000 in this cycle.

K33 reported, "The strong catalyst for the fourth-quarter Bitcoin rally was Trump's election," and noted, "Considering that it takes time for (cryptocurrency-related) policies to materialize, the inauguration will be a natural conclusion to Bitcoin's (upward) momentum."

Reporter Han Kyung-jae