- Industry experts believe Bitcoin may soon hit its new all-time high.
- US crypto development could push Bitcoin price to $130,000.
Bitcoin has been facing weakness in recent days getting rejected from the $105k mark. Despite that, analysts believe it may reach a new all-time high in the first quarter of 2025.
According to Standard Chartered analyst Geoff Kendrick, the king crypto may leapfrog the $109k price point soon, and before March end its price could reach the $130k mark.
Donald Trump Pro-Crypto Policies Benefit Bitcoin Price
Experts believe Donald Trump’s pro-crypto policies could push Bitcoin prices to new highs. There has been optimism around Bitcoin investors. Not only this, according to recent reports Czech National Bank could convert 5% of its reserves into Bitcoin.
Moreover, the Swiss National Bank is also planning to embrace BTC as Swiss campaigners gather signatures to force a vote to hold Bitcoins. Big investors believe that the US’s creation of a Strategic Bitcoin reserve might trigger other countries to do the same, which will impact the Bitcoin price positively.
According to CoinMarketCap data Bitcoin price is trading at $102.3K with an intraday drawdown of 2.26% and has a market cap of $44.02 billion. It hit its all-time high price of $109,114.35 on January 20, 2025.
As per the technical analysis, Bitcoin price is consolidating between a price range of $100K to $109K. However, its price is still trading above the key moving averages of 50 days and 200 days, showcasing that bullish momentum still exists.
Currently, the RSI indicator is showing neutrality. The RSI curve is at 52.62 and the 14 day SMA curve is at 57.14, indicating neutral perspective. If Bitcoin surpasses the 109K level then it can reach new highs in the upcoming months.
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