Benzinga Readers See More Gains for Bitcoin (BTC) After the Leading Cryptocurrency Passed Multiple New All-Time Highs After Donald Trump's Re-Election

The current all-time high for Bitcoin is $93,434.36, which was reached on Nov. 13. Before that, Bitcoin knocked out various prices in the $80,000s.

A recent Benzinga poll asked its readers, "Which cryptocurrency do you think will see the biggest price increase by the end of 2025?"

The results were:

Bitcoin (BTC)

Dogecoin (DOGE)

Ethereum (ETH)

Shiba Inu (SHIB)

Pepe

The poll found Bitcoin to be the clear winner with 42% of the vote, followed by Dogecoin at 36%.

Bitcoin has seen massive gains in 2024, hitting multiple all-time highs after Donald Trump's re-election. The current all-time high for Bitcoin is $93,434.36, which was reached on Nov. 13.

Before that, Bitcoin knocked out various prices in the $80,000s.

The cryptocurrency was trading around $60,000 at the beginning of November.

Bitcoin is now up over 300% year-to-date and recently saw a seven-day return of 23%.

The leading cryptocurrency began 2024 trading around $23,000.

Another recent Benzinga poll saw 73% of readers say they believed Bitcoin would hit $100,000 before the end of 2024, adding to the year-to-date gains.

Bitcoin's gains have come amid several price target increases from Wall Street analysts.

Morgan Stanley recently increased its Bitcoin price target to $100,000, while Citigroup raised its target to $300,000.

Meanwhile, JPMorgan Chase analyst Nikolaos Panigirtzoglou said Bitcoin could reach $500,000 in the coming years.

Bitcoin's price action has also been impacted by the Federal Reserve's interest rate hikes and other monetary policy actions.

The Fed has raised interest rates several times in 2024 in an effort to curb inflation.

Rising interest rates have led to a sell-off in the stock market and other risk assets.

However, Bitcoin has largely managed to hold up well amid the market sell-off.

While Bitcoin is up significantly over the past year, the cryptocurrency is still trading well below its all-time high of $69,000, which was reached in November 2021.

If Bitcoin continues to gain ground in the coming months, it could be set to reach new all-time highs before the end of 2024.