Crypto giant Bitcoin soared as Donald Trump won the US presidential election and created the 'perfect' flow for it to continue to skyrocket in the coming weeks.
Bitcoin hit an all-time high rising above $75,000 along with several other cryptocurrencies as well.
Dogecoin, Elon Musk's favorite meme-based crypto has garnered high speculation among digital currency investors.
Now, high focus is on the US Fed's decision this week in setting the next direction of monetary policy and market analysts are increasingly confident that the price of Bitcoin can soar to $100,000 in the next year.
Previously, the crypto market experienced a rise during the first administration of Donald Trump during his presidency from 2016 to 2020 due to the weakening of the USD currency compared to today.
Most Bitcoin and crypto market watchers point to options data that suggests there is a 15% chance of the bitcoin price reaching $100,000 by early 2025.
However, it is highly likely that there will be a price correction this week due to investors' confidence in taking profits after the election is over.
For now, the crypto market is still led by Dogecoin and Bitcoin which became Elon Musk's favorite when he approved payments for Tesla and SpaceX company products.
