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The cryptocurrency rally got a further boost as Bitcoin price surpassed $109,000 for an all-time high.
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Experts say the cryptocurrency may be on track to hit $125,000 soon from Trump’s pro-crypto stance.
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Robinhood Markets, NVIDIA, Coinbase Global and Interactive Brokers Group look to gain from Bitcoin highs.
The cryptocurrency rally got a further boost on Monday, hours ahead of Donald Trump’s inauguration, with Bitcoin (BTC) price surpassing $109,000 to hit an all-time high. Bitcoin’s price has since retreated more than 5% and hovered around $102,000 on Monday night.
However, the decline can be overlooked as Bitcoin has been on a rally over the past few months and experts believe the cryptocurrency is on track to hit $125,000 in the near term from Trump’s pro-crypto stance.
Given the positive sentiment, investing in Bitcoin-centric stocks like Robinhood Markets, Inc. HOOD, NVIDIA Corporation NVDA, Coinbase Global, Inc. COIN and Interactive Brokers Group, Inc. IBKR would be a smart decision. These stocks have strong growth potential for 2025. Each of these stocks has seen positive earnings estimate revision in the past 60 days.
Bitcoin had a stellar 2024, soaring more than 100%. The rally gathered steam after Trump’s victory in the U.S. Presidential election on Nov. 5. Since then, Bitcoin has shot up every time Trump has hinted at creating a crypto-friendly environment.
This saw Bitcoin hitting a high of $106,533 on Dec. 22. In his campaign, Trump vowed to turn the United States into the “crypto capital of the world,” outlining plans to create a strategic Bitcoin reserve and hire regulators who back digital assets. Following the victory, he appointed a number of crypto-friendly people to important cabinet and regulatory roles.
Experts believe that deregulating crypto will boost Bitcoin, making 2025 another landmark year. Monday’s surge to a fresh all-time high came as Trump was sworn in as the 47th U.S. President. Investors believe that Trump’s return to the Oval Office marks the beginning of a crypto-friendly environment, and they will also get regulatory clarity under his regime.
Besides, Bitcoin has hit new all-time highs every four years in its last two bullish cycles since 2017. During these cycles, the cryptocurrency gained 2300% and 1700%, followed by corrections between 70% and 80%. From its low of $16,000 in early 2023, Bitcoin has surged more than 600%, suggesting robust growth potential in the next two years.
Robinhood Markets, Inc. operates a financial services platform in the United States. Its platform allows users to invest in stocks, exchange-traded funds, options, gold and cryptocurrencies. HOOD buys and sells Bitcoin, Ethereum, Dogecoin and other cryptocurrencies using its Robinhood Crypto platform.
