The Future of Bitcoin Above 100,000 USD: Key Factors Driving Price Increase and Decrease

According to Matthew Sigel, Head of Digital Asset Research at VanEck, the price of Bitcoin and the possibility of a strategic Bitcoin reserve seem to be moving together. Whenever the price of Bitcoin rises, the possibility of establishing a Bitcoin reserve also increases. Experts in the cryptocurrency field believe that if the reserve is announced, the price of Bitcoin is likely to increase; if not, the price may decrease. Bitcoin Reserve Speculation: Will the Price Rise or Fall? In an interview with Scott Melker, Sigel opened up and believed that the new administration in the United States could be a turning point for Bitcoin. With expected headlines revolving around loosening regulations and supporting the unregulated energy market, the stage is set for Bitcoin to be embraced. The Altcoin Market Faces Correction Amid Concerns About Token Unlocking However, the altcoin market has recently faced difficulties. Last Friday, altcoins experienced a 35% correction - the largest drop since the 2020 election. This sharp decline signals that many speculative funds have been wiped out, but it may set the stage for an increase in Bitcoin as negative sentiment weakens. Sigel also pointed out significant token unlockings this week, causing some market concerns. With 3 billion dollars worth of alternative cryptocurrencies unlocked, some traders expect these tokens to be sold off, putting downward pressure on prices. However, Sigel remains optimistic in the long run, believing that market fluctuations are just part of the cycle. State Bitcoin reserves increase sharply as adoption grows Finally, there is increasing support at the state level for Bitcoin reserves. For example, Oklahoma recently passed a law to create its own Bitcoin reserve. This change could further drive the growth of Bitcoin, regardless of what happens at the federal level. As Bitcoin progresses, experts believe that positive changes are ahead, with the actions of new governments likely to create the necessary momentum for a 2025 price surge. At the time of writing, Bitcoin is trading at $102,000 and has risen over three percent in the past 24 hours. DYOR! #Write2Earn #Write & Earn $BTC {spot}(BTCUSDT)