Bitcoin heading straight for $10,0000? Time to sprint into the market?
With Trump's win in the US presidential elections, Tesla and Bitcoin are flying high! Trump Trade, Musk Trade, and crypto-metical trades are all booming! How much have y'all made?
$Tesla (TSLA.US)$ urged nearly 30% at its peak over the past week. ETF tracking TSLA like $Direxion Daily TSLA Bull 2X Shares (TSLL.US)$, $GraniteShares 2x Long TSLA Daily ETF (TSLR.US)$ , $T-REX 2X LONG TESLA DAILY TARGET ETF (TSLT.US)$ may also have reached their recent peaks following upside trends. I've seen many friends here making a hefty profit—totally envious!
However, clearly, the stock prices have started to show a declining trend in the last two days. Do you think this is just a minor correction and normal fluctuation before it continues to FLY TO THE MOON? Or do you think it will continue to fall to levels even lower than before the surge of excitement from Trump's election win? What are your thoughts?
Bitcoin is rocking for a $100k milestone
Even more thrilling, Bitcoin breached the $90k mark last night, soaring to a new all-time high of $93,483. Are we eyeing $100k soon?
Compared with other mainstream asset values, Bitcoin's current market cap has hit $1.7 trillion, surpassing giants like $Meta$ and silver and making it the world's eighth largest asset.
Market analysts reckon that Trump’s recent election victory was a key factor driving Bitcoin’s price surge, along with investors money “flooding” the market and the Fed's rate cuts injecting more liquidity into the crypto market.
Bitcoin as a National Reserve would become a trend.
As Bitcoin's value continues to climb, more countries are paying attention to this cryptocurrency. Bhutan and El Salvador are notable examples. Crypto analyst PlanB suggests that from March 2025, countries like Bhutan, Argentina, and Dubai are expected to adopt Bitcoin as legal tender. Under Trump's influence, the USA is set to initiate Bitcoin strategic reserves in April. Other nations, particularly non-EU countries, are likely to follow suit.
Many Institutions Clamoring for BTC
The market widely acknowledges that a new bull market has already started. Influential Michael Saylor's call to action and substantial real-money purchases undoubtedly signal optimism for future market trends.
According to a Glassnode analyst in a report on Tuesday, the recent surge in Bitcoin is primarily driven by the spot market rather than derivatives.
Have you noticed the massive upticks in US crypto concept stocks and their ETFs, plus crypto spot ETFs, over the last few days? Did you folks manage to jump on this wave?
Cryptocurrency ETF Fast Following Rise
Glassnode analysts highlighted that Bitcoin ETFs saw a whopping $6.8 billion increase in assets under management over the past 30 days, surpassing the $4.8 billion increase in futures open interest on the Chicago Mercantile Exchange.
Open interest refers to the total number of outstanding derivative contracts that have not been settled.
The analysts mentioned, "The demand for ETFs has grown stronger, highlighting the shift to direct spot exposure during this market rally."
Cryptocurrency Stocks Also Surge
As for related concept stocks, globally known for hoarding Bitcoin, $MicroStrategy (MSTR.US)$ disclosed that between October 31 and November 10 this year, they'd scooped up about 27,200 more Bitcoins.
This massive surge in Bitcoin also rocketed its stock price, which has soared nearly 440% this year alone and an astounding 2500% since August 2020, while Bitcoin itself rose about 660% in the same period.
I've seen plenty of you making great money during this uptrend, but actually, I entered the game late.
Just when I invested yesterday, $MicroStrategy (MSTR.US)$ started to slide. What do you guys think? Should I cut my losses tonight or hold on? Or what other
Anyway, I have seen a very great potential for earning more and more from Bitcoins in the upcoming futures.
If there's a slight pullback in crypto next, I'd jump in without hesitation!
I might consider some spot ETFs, too, like $iShares Bitcoin Trust (IBIT.US)$
$Fidelity Ethereum Fund (FETH.US)$But after getting burned chasing the highs with $MicroStrategy (MSTR.US)$ this time, I’m a bit wary.
Looking at $Coinbase (COIN.US)$ and $Marriott International (MAR.US)$ a diverging from crypto trends doesn't really boost my confidence in investing in crypto concept stocks either. What do you think about it?
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
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TheOracleOfBroMaha : $10,000? Maybe check b 4 post… ijs
EZ_money : price target PT are scams. if you play stocks you know these institutions and banks use their paid off analysts to manipulate the market. if you play strictly based on price target you deserve to lose money.
LuckyLuke EZ_money : That's absolutely correct
EZ_money LuckyLuke : thank you. a free market would allow retail to decide what prices are through selling and buying. having these institutions and banks giving PTs should be illegal in my opinion it's a form of manipulation