Bitcoin (BTC), the world’s largest cryptocurrency, has been on an uptrend for the last several weeks. Donald Trump’s victory seeped into the cryptocurrency market and brought about major gains for investors. The BTC-led rally pushed several assets to notable highs. Bitcoin itself went on to record multiple new peaks. But the real question is if BTC can continue this hot streak and hit the coveted $100,000 mark.
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Revisiting Bitcoin’s All-Time High
2024 is certainly one of the best years for Bitcoin. The king coin recorded multiple peaks this year. About six days ago, the asset surged all the way to a high of $93,434.36, marking its latest peak. Following a slight correction, BTC trades 1.67% below its mark.
At press time, Bitcoin was trading at $91,889.98. The past 24 hours have been quite volatile for the king coin as it briefly dipped below the $90,000 zone. The daily volume of the asset remained at a high of $73.73 billion after rising by 53%.
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A Bullish Thanksgiving?
According to previous data, Bitcoin has experienced increases over the majority of Thanksgiving in the past. The Bulls appear to have been prepared to feast this year as well. According to CoinCodex, Bitcoin will, in fact, reach the much-anticipated $100,000 milestone. The firm pointed out that on November 28, the price of Bitcoin will increase by 9.72% from its current level. It is anticipated that Bitcoin will reach a peak of $100,707.
In addition, as seen in the above image, BTC will hit this peak much before Thanksgiving. In fact, the asset is expected to surge as high as $101,809 on the day before.
This rally is expected to be fueled by Gary Gensler’s potential resignation around Thanksgiving. Several reports suggest that Gensler, the current chairman of the Securities and Exchange Commission (SEC) will step down from his post by the end of the month.
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