Bitcoin Price Rises. Why the Crypto Can Break $100,000 Again Soon. — Barrons.com
By Elsa OhlenThe price of Bitcoin rose early Monday, leading gains among the biggest cryptocurrencies.Bitcoin is up 1.5% to $99,128 over the past 24 hours, according to CoinDesk data. It rose about 6% last week.The world's largest cryptocurrency is off from its brief peak above $108,000 in mid-December, but is attempting to return above the 50-day moving average. "A solid break above $97,000 will allow us to expect new highs above $110,000 soon," FxPro analyst Alex Kuptsikevich wrote Friday.Crypto investors might want to keep an eye on the equities market as well. The end of 2024 showed the mood of cryptocurrency enthusiasts was undermined by a downward reversal in U.S. and China stocks, Kuptsikevich noted.Futures tracking the S&P 500 were up 0.4% early Monday. The Hang Seng Index closed down 0.4% Monday amid worries about President-elect Trump's plans to impose tariffs on China.Among other cryptocurrencies, XRP is trading 1.4% higher over the past 24 hours, while Ethereum, Solana and Dogecoin are up less than 1% each, according to CoinDesk data.Write to Elsa Ohlen at [email protected] content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.