Bitcoin has shown strong performance recently, breaking through the important $90,000 threshold and reaching a historic high of $93,483. It is currently priced at $90,330.50, marking a 1.9% increase. Driven by the continuous rise in Bitcoin, cryptocurrency concept stocks in the Hong Kong stock market have also shown significant strength. As of the time of writing, Boyaa Interactive (00434.HK) has risen by 7.64%, OKG Technology (01499.HK) by 5.99%, and Meitu Inc. (01357.HK) by 4.44%.
Analysts point out that the surge in Bitcoin prices is due to the optimistic market sentiment following the U.S. presidential election and the anticipation of a more relaxed regulatory environment for cryptocurrencies in the future. With Trump elected as President and the Republican majority in the Senate, it will become easier to advance a policy framework more favorable to cryptocurrencies. The market generally expects that under this relaxed policy, Bitcoin prices could reach $100,000 within the year, representing an increase of about 33%. Some analysts are even more optimistic, suggesting that with policy support and market sentiment, Bitcoin prices could reach $200,000 by the end of 2025.
As Bitcoin prices continue to reach new heights, global attention and investment enthusiasm for cryptocurrencies are heating up, providing strong support for cryptocurrency concept stocks. Investors will continue to monitor Bitcoin market dynamics and the future direction of U.S. regulatory policies to assess the potential for further growth in the cryptocurrency market.
