Bitcoin has just surpassed the $99,000 mark, as a new surge promises to break all records. Let's see what is happening with Bitcoin, why it is rising now, and which new cryptocurrency is worth buying to stay ahead of the competition.
According to Arthur Hayes, former CEO of BitMex, the growth #BTC is similar to what happened from the third quarter of 2022 to early 2025.
Moreover, the crypto magnate acknowledged that his optimistic mood has peaked, stating that he is 'all in' on Bitcoin and expects a price of $150,000 by the end of the year.
What triggered Bitcoin's rise and can new cryptocurrencies follow this example?
Hayes offers an explanation of what triggered Bitcoin's rapid rise.
'Today, there is a lot of fear, uncertainty, and doubt in the markets, and the monetary authority, especially in America, cannot cope with it, so they resort to printing money.'
Hayes believes that the current growth actually began on April 9 with Trump's 90-day tariff pause, which occurred shortly after the president announced his tariff plan on April 2.
This series of events destabilized the markets to such an extent that the very rumors of a possible pause caused a market surge of $2 trillion in less than half an hour.
The growth soon faded, but the market rebounded by 6% after the official announcement the next day. The ups and downs of this entire tariff crisis look like something out of a Hollywood drama:
Perhaps this will be long and happy, as Grayscale's head of research, Zach Pandl, also expressed a positive outlook for Bitcoin's future dynamics.
Pandl stated that while the Federal Reserve is concerned about rising stagflation risks, Bitcoin could benefit from this.
'Like gold in the 1970s, Bitcoin today has a rapidly improving market structure supported by changes in U.S. government policy, which may help expand Bitcoin's investor base.'
However, looking at the bigger picture, it is not just market instability that fuels Bitcoin's rise.
Here, in our opinion, is a more relevant timeline that better explains the state of the crypto market:
July 31, 2024: U.S. Senator Cynthia Lummis announces plans to create a 'strategic reserve of bitcoins.'
November 5, 2024: Bitcoin rose by 10%, surpassing the $76,000 mark, as Trump's victory became inevitable.
December 6, 2024: Trump calls pro-crypto activist David Sacks the 'king' of artificial intelligence and cryptocurrency.
December 23, 2024: A little more than a month after election day, Bitcoin surpassed the $100,000 threshold, reaching a record $106,490.
February 21, 2025: Trump appoints Howard Lutnick, a cryptocurrency supporter, as the next Secretary of Commerce.
January 21, 2025: Acting Chairman Mark T. Uyeda forms a new Cryptocurrency Working Group within the SEC to create a more regulated and favorable crypto space.
January 23, 2025: Senate Banking Committee Chairman Tim Scott appoints cryptocurrency supporter Cynthia Lummis as the new Chair of the Senate Banking Subcommittee on Digital Assets.
March 6, 2025: The White House establishes a Bitcoin Reserve and a Digital Assets Reserve.
Q1 2025: The Securities and Exchange Commission (SEC) rejected several lawsuits against cryptocurrency companies such as Coinbase, XRP, and Kraken.
All these events created the perfect conditions for Bitcoin to surpass previous highs, which we are observing in real-time.
A favorable context is also expected to lead to a surge in new crypto projects, opening doors for new investment opportunities. Thus, here are some of the best altcoins to consider today.
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