The Bitcoin price achieved a new all-time high, hitting $75,000 on November 6. Crypto analyst Tony Severino suggested that Bitcoin could experience a parabolic rally, reaching a potential high of $140,000 by 2025. He mentioned that Bitcoin's price is nearing a crucial bullish phase, often referred to as the strongest part of a bull run.
The recent price surge is attributed to Donald Trump's election victory, who is seen as supportive of Bitcoin and other cryptocurrencies. Such political developments have historically led to a positive outlook for the crypto market.
Additionally, a possible Federal Reserve rate cut, expected soon, could further bolster Bitcoin's bullish trajectory. Market speculators anticipate this move to encourage more investment into Bitcoin and related ETFs, especially from institutional investors.
Current Bitcoin trading values are around $74,500, marking a significant increase of over 9% within a 24-hour period, as per CoinMarketCap data.
