Bitcoin is experiencing a strong rally following the recent US election, nearing $US95,000.
The cryptocurrency peaked at $US94,917 before a slight pullback.
Bloomberg reports that former President Trump’s team is in talks with the digital asset sector about establishing a new White House position dedicated to cryptocurrency policy.
Nigel Green of deVere Group believes Bitcoin could reach $US120,000 by the end of March.
He notes that institutional interest in Bitcoin is at a record high, and the infrastructure for mass adoption is expanding.
Market maturing
Green acknowledges that while the crypto market is maturing, investors should remain cautious about potential challenges. He emphasizes that Bitcoin’s growth is accompanied by volatility.
For long-term investors, Green sees a clear upward trajectory. He points out that the combination of limited supply, rising demand, and favorable regulatory developments supports sustained growth in Bitcoin’s value.
