Bitcoin Hits New High: $109,000
Bitcoin Reaches New All-Time High of $109,000
Bitcoin (BTC) has achieved a new all-time high, reaching $109,220 today. This milestone marks the end of a four-month wait for investors. Following the break above the previous high of $108,900, many anticipate further price increases in the short term. However, this also raises the possibility of profit-taking.
Bitcoin All-Time High Price Chart. Source: TradingView
Potential for Profit-Taking and Market Trends
While profit-taking is a potential concern, historical data from the January 2025 all-time high suggests investors may hold onto their BTC. Exchange inflows weren't significant immediately after that peak, indicating a potential reluctance to sell unless clear signs of a market top emerge.
Bitcoin Balance on Exchanges. Source: Glassnode
It's important to remember that previous ATHs have been followed by price corrections. After the January 2025 high, BTC experienced a downtrend, falling to $74,508 within three months. Whether a similar correction will occur this time remains uncertain.
Expert Opinion: Standard Chartered's Bullish Prediction
Standard Chartered remains incredibly bullish on Bitcoin's future. Geoff Kendrick, Head of Digital Assets Research at Standard Chartered, told BeInCrypto that Bitcoin is on track to reach $500,000 before the end of a potential second Trump administration.
“As more investors gain access to the asset and as volatility falls, we believe portfolios will migrate towards their optimal level from an underweight starting position in Bitcoin.”
Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. Market conditions are volatile. Conduct your own research before making any investment decisions.
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