Investing.com — Bitcoin rose for a seventh straight session on Monday, reversing a year-end slump, as investors cautiously await clues on the US administration's outlook before President-elect Donald Trump takes office this month.
rose 1.1% to $99,513.7 at 01:35 ET (06:35 GMT).
This price movement is part of a broader crypto trend, with Bitcoin gaining 6% in value over the past week.
In December 2024, Bitcoin reached a high of $108,244.9, driven by increased institutional acceptance and expectations of a strategic reserve under the Trump administration.
However, prices fell sharply in the last two weeks of 2024 amid profit-taking as the US Federal Reserve's hawkish rate outlook fueled fears of a recession.
Analysts remain optimistic about Bitcoin's future performance. HC Wainwright projects that Bitcoin could reach $225,000 by the end of 2025, citing historical price cycles, regulatory expectations, and increasing institutional acceptance as key factors.
However, some warn that the future price of Bitcoin could rise above $125,000 or fall to $77,000 in the first quarter of 2025, influenced by the actions of President-elect Donald Trump.
Elon Musk's 'X Money' plans spark speculation of crypto inclusion
Elon Musk's ambitious vision for X, formerly known as Twitter, is set to introduce “X Money.” Scheduled to launch in 2025, X Money aims to integrate digital payments directly into the platform.
Last week, Linda Yaccarino, CEO of X, announced that payments will be introduced to the social media platform in 2025 under the banner of “X Money”, and many other things, encouraging people to “bind” for the future. .
The confirmation fueled intense speculation that the platform could integrate or support Bitcoin, other cryptocurrencies, or dollar-pegged stablecoins.
These stablecoins use crypto technology to make transactions fast and cost effective. Notably, Elon Musk's space exploration company, SpaceX, recently merged with the leading USDT stablecoin, adding intrigue to the possible role of crypto in the X Money ecosystem.
This merger could greatly increase the use and adoption of Bitcoin, aligning with Musk's long-term support for digital currencies.
Crypto price today: most altcoins are falling higher but remain depressed
In the broader cryptocurrency market, Bitcoin's performance continues to influence other digital assets.
World no.2 crypto inches 0.8% up to $3,669.04.
The World no.3 crypto is listed up 0.3% to $2.4130.
decreased by 0.9%, while it gained 0.4%. an inch of 0.3% less. Among meme tokens, they lost 1%.