Bitcoin: Next stop $150,000?

Bitcoin reaching $100,000 marked a pivotal milestone on Thursday, underscoring its increasing adoption and perceived value. Analysts are now shifting focus to the next potential resistance levels, eyeing targets of $150,000 and even $200,000. The market’s measured reaction suggests there may still be room for growth, analysts suggest.

Bitcoin broke $100,000 for the first time Thursday after Trump nominated cryptocurrency backer Paul Atkins to head the US securities regulator, reinforcing optimism the incoming president will deregulate the sector.

The digital unit has enjoyed a blistering rally since the November 5 election of Trump, who pledged to make the United States the “bitcoin and cryptocurrency capital of the world”.

US President-elect Donald Trump on Thursday took credit for bitcoin’s historic surge past $100,000, telling his social media followers “you’re welcome” after the cryptocurrency jumped more than 50 per cent since his election victory.

Bitcoin hit a record of $103,800.45 in Asian trading hours Thursday before dipping back under $103,000.

Following Trump’s remarks, it began climbing again, reaching $103,320, AFP reported. The volatile asset has soared by around 140 per cent since the turn of the year.

Almost 16 years since its first block was mined in 2009, Bitcoin has reached the landmark milestone of $100,000 per coin, placing the asset at a total market capitalization of over $2 trillion. This also places Bitcoin firmly on the very short list of just seven assets or companies that have achieved more than $2 trillion in market capitalization, the rest being gold and tech giants NVIDIA, Apple, Microsoft, Alphabet (Google), and Amazon.

Bitcoin’s historic rally to $100,000 per token comes on the back of significant structural changes to the market, potential U.S. regulatory changes under the Trump administration and institutional adoption fuelled by the success of Bitcoin ETFs. “With talks of a US Strategic Bitcoin reserve and more companies adding BTC to their corporate treasuries, we are on the precipice of true mainstream global adoption,” Richard Teng, CEO of Binance, said in a statement. “Thursday’s milestone marks a turning point in Bitcoin’s journey from a niche asset to a mainstream financial instrument, attracting more institutional and retail investors, a powerful narrative and sentiment driver reinforcing crypto’s position in the financial landscape and encouraging broader adoption,” he added.

The recent shift in macroeconomic conditions has played a considerable role in Bitcoin’s rally. With the Federal Reserve cutting interest rates after a prolonged period of tightening, and global liquidity on the rise, capital has flowed into assets perceived as inflation-resistant and scarce. “Bitcoin, with its fixed supply of 21 million coins, has stood out as a natural hedge against fiat currency devaluation, driving increased demand,” Teng said.

Bitcoin’s rising dominance could temporarily divert investment away from altcoins. However, history suggests that once Bitcoin stabilises, altcoins often experience a resurgence. Investors frequently enter Bitcoin at new highs, anticipating sustained upward momentum, which could further propel its price in the short term, said Ryan Lee, chief analyst at Bitget Research.

“Looking ahead to 2025, long-term forecasts project Bitcoin setting new all-time highs before altcoins regain attention and traction. Despite these optimistic scenarios, the inherent volatility of the crypto market cannot be overlooked. Investors are advised to remain vigilant and prepared for potential corrections,” Lee added.

Bitcoin’s $100,000 milestone marks a pivotal moment for secure, decentralised payments and signals the growing influence of blockchain in reshaping commerce, says Dan M. Wagner, CEO of Rezolve, a Nasdaq-listed AI technology business. “With President-elect Trump pledging to deregulate cryptocurrency, we’re on the brink of a revolution in how we transact—one that could disrupt the $600 billion merchant fee market and transform the $30 trillion retail sector.

“Imagine walking into your favourite local restaurant, enjoying a delicious meal and choosing to pay with Bitcoin instead of cash or card. No need for middlemen or extra fees—just a simple, secure transaction on the blockchain. Our new AI-powered commerce solution supported by Tether will empower retailers and shoppers alike, eliminating merchant fees and enabling seamless crypto payments both in-store and online. This is about throwing off the shackles of the old banking system and ushering in a fairer, more innovative future for all.”

There are two key important points to discuss with BTC now at 100,000, said Haider Rafique, global chief marketing officer, OKX. “First, the milestone is a significant celebratory moment for the industry. Hundreds of thousands of developers and ecosystem players have been working on Bitcoin and crypto for the last decade plus, and this is validation of their hard work. Second, there are still significant bullish signals in market – Michael Saylor recommending Microsoft buy bitcoin, more institutional adoption and so on,” he added.

That being said, there could be a supply shock in the future as bitcoin’s finite supply comes into focus for a larger pool of investors in a bullish cycle. “There could also be a retrace in the near future of 20-30% as some investors will likely make profit. However, this type of pullback probably wouldn’t last too long,” Rafique said.

Shivam Thakral, CEO of BuyUcoin, India’s second-longest-running digital asset exchange, said traders are enthusiastic about a more favorable regulatory environment, particularly with Trump’s commitment to making the US the “crypto capital of the world” and his plans to establish a national Bitcoin reserve. “Investors predict that Bitcoin could continue its upward trajectory as we head to 2025, with some forecasting a rise to $120,000 soon,” he added.