Following Trump's victory in the U.S. presidential election, Bitcoin experienced heightened buying pressure, which resulted in the asset's price reaching a record high of over $76,000.
Currently, many analysts predict that the first digital asset is likely to trade at around $100,000 even before Trump is inaugurated.
This optimistic forecast is based on investors' expectations for a more favorable environment for cryptocurrencies.
A report by Copper dated November 6 confirms the prediction that Bitcoin will reach the $100,000 mark by January.
In forming this forecast, the company examined historical trends in Bitcoin exchange-traded fund (ETF) accumulation, as the sector continues to record significant capital inflows.
“We have analyzed the trend of Bitcoin accumulation in ETFs considering potential price ranges. $100,000 for Bitcoin is quite feasible by the time the 47th President of the United States heads to the Capitol for the inauguration on January 20, with ETFs holding approximately 1.1 million bitcoins,” the report states.