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Breaking News: Bitcoin Price Slips Below $108,000: Peter Schiff Anticipates ‘Brutal’ Bear Market, CZ Responds
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Breaking News: Bitcoin Price Slips Below $108,000: Peter Schiff Anticipates ‘Brutal’ Bear Market, CZ Responds

New ATH: Bitcoin Tops $106K—Is FOMO And Strategic Reserve The Game-Changer?

Christian Encila
Christian Encila
10 months ago
3 mins read
Bitcoin

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With a new all-time high, Bitcoin is once again the talk of the crypto world. In the rough history of the alpha cryptocurrency, breaking through the key $106,000 mark on December 16, 2024, was a big moment. Investors are more confident now that Donald Trump won the election, which was based on his campaign promises.

🚀 #BTC hits $106K!

The crypto sky just got brighter—what’s your next move?
📈 https://t.co/0XLTbaOUoL pic.twitter.com/VxWzZRx83M

— Gate.io (@gate_io) December 16, 2024

A New Era For Bitcoin

The excitement over Bitcoin stems from more than just numbers; it also comes from the possibility for a change in legislative attitudes. The victory of Trump has led to a general opinion that his government will be more open to cryptocurrencies than the previous administration.

He plans to designate pro-crypto leaders to important roles, including Paul Atkins as the Securities and Exchange Commission (SEC) new director. This has inspired hope for a more flexible regulatory framework, which many feel will help to raise the value of Bitcoin even more.

Bitcoin price breaking the $100k barrier. Source: Bitstamp

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Bitcoin’s price has increased by nearly 50% in the span of just over a month since Trump’s election. According to experts, investors’ “fear of missing out” (FOMO) is the primary driver of this increase.

The approval of Bitcoin exchange-traded funds (ETFs) earlier this year was also instrumental in attracting mainstream investors, facilitating their entry into the market. Bitcoin’s aggregate market capitalization has now surpassed $3.8 trillion as a result of these developments.

Bitcoin is now trading at $104,592. Chart: TradingView

Managing The Volatility

Though there is obvious excitement right now, experts caution investors about Bitcoin’s known volatility. Financial advisers suggest that a portfolio should include about 5% of cryptocurrencies.

They underscore the significance of a disciplined approach that effectively balances the inherent risks with the potential benefits. Historical data indicates that Bitcoin is capable of experiencing significant price fluctuations, as evidenced by its 70% decline in 2021 following its previous high.

Many are riding the tide of optimism, despite these warnings. Also fueling the rise of Bitcoin is the expectation that the Federal Reserve may cut interest rates this week. When financing costs are low, riskier assets, like cryptocurrencies, tend to do well because of lower interest rates.

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Massive Dogecoin Rally Incoming: Bigger And Better Than 2021 — Analyst

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Uncertain And Promising

As Bitcoin keeps breaking new benchmarks, its future is both unknown but also bright. The possibility for a national strategic reserve for Bitcoin under Trump’s presidency has generated discussion among analysts and investors. This idea has the same resemblance to traditional oil reserves and could help Bitcoin’s place in the financial system to be consolidated.

Featured image from Euronews, chart from TradingView

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Christian Encila
Christian Encila

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Read more

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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