Bitcoin Hits New All-time High Price $109,800— Veteran Trader Says Bull Run Begins

Bitcoin, the world’s leading cryptocurrency, has recently achieved a new all-time high of $109,788, surpassing its previous record set in January. This milestone has propelled Bitcoin to become the fifth-largest asset globally, with a market cap of $2.14 trillion, overtaking Amazon in market value.

Despite this impressive growth, industry experts are optimistic that Bitcoin’s rally is far from over. Several factors have contributed to the recent surge in Bitcoin’s price.

Institutional investors have played a significant role in driving Bitcoin’s upward trajectory. Companies like MicroStrategy, now known as Strategy, have continued to increase their Bitcoin holdings, with over 576,000 Bitcoins in their possession, accounting for 2.7% of the total supply. This trend has been mirrored by other corporations, such as Japan’s Metaplanet, which recently acquired 1,004 BTC, bringing their total holdings to 10,000 BTC. The growing demand from institutional investors has bolstered confidence in Bitcoin’s future potential.

Moreover, governments are beginning to show support for Bitcoin and the broader cryptocurrency market. In the United States, the GENIUS Act, which aims to establish clearer regulations for stablecoins, is making progress in the Senate. Additionally, President Donald Trump’s executive order to create a Strategic Bitcoin Reserve signals a shift towards embracing digital assets at the government level. These developments have further fueled investor confidence in Bitcoin’s long-term prospects.

As a result of these factors, Bitcoin’s market value has surged to $2.13 trillion, making it the fifth most valuable asset globally, trailing behind gold, Microsoft, Nvidia, and Apple.

Looking ahead, seasoned traders and financial experts are bullish on Bitcoin’s future price potential. Veteran trader Peter Brandt predicts that Bitcoin could reach $150,000 by August and has taken a “long” position on BTC in anticipation of further gains. Renowned author Robert Kiyosaki is even more optimistic, suggesting that Bitcoin could reach $250,000 by the end of the year. Despite Bitcoin’s current record high, many believe that the cryptocurrency is poised for even greater growth in the near future.