Bitcoin and cryptocurrencies, including Ripple's XRP, have suddenly shot higher, with the bitcoin price now again within touching distance of $100,000 after suddenly crashing back this week.

The bitcoin price has rocketed this year, pushed on by the election of Donald Trump as U.S. president—fueling a huge $15 trillion bitcoin price bet.

Bitcoin and other cryptocurrencies have surged higher this week, with bitcoin now again approaching $100,000 after crashing back earlier in the week.

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The bitcoin price has rocketed this year, pushed on by the election of Donald Trump as U.S. president—fueling a huge $15 trillion bitcoin price bet.

Now, as Elon Musk quietly confirms a bitcoin and crypto market game-changer, bitcoin bulls are ramping up their 2025 price predictions after Donald Trump's election triggered a regulatory "green light."

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U.S. president-elect Donald Trump has helped spur a bitcoin price boom this year, with Ripple's XRP ... [+] and the price of smaller cryptocurrencies also surging.

"U.S. institutional investors will deepen their exposure to crypto assets and the rest of the world will play catch up," Ed Hindi, chief investment officer at Switzerland-based crypto hedge fund Tyr Capital, said in emailed comments—putting his bitcoin price prediction for 2025 at $250,000.

"Trump’s win is a massive regulatory green light that will broaden both participation and position sizes in bitcoin, ethereum and blue chip decentralized finance (DeFi) altcoins."

Trump, who has leaned into bitcoin and crypto this year, promising to create a bitcoin strategic reserve and loosen regulations that crypto companies have complained are stifling the technology, is weighing whether to replace outgoing chair of the U.S. Securities and Exchange Commission (SEC) Gary Gensler with a pro-crypto regulator.

Ripple's XRP has surged 13% this week as traders bet Trump's pick for SEC chair will mean an end to Ripple's drawn-out legal battles, with the XRP price soaring almost 200% since the U.S. election at the beginning of November.