Bitcoin price surges to $93,120 as analysts predict potential rise to $120,000

Bitcoin's price has surged to $93,120, following Donald Trump's recent election victory. Analysts attribute this rise to favorable market conditions, including new inflation data and expectations of a potential interest rate cut. Trading firm QCP predicts Bitcoin could reach between $100,000 and $120,000, citing plans for a Bitcoin strategic reserve and a shift from gold to digital assets as key factors. However, they warn about risks from high leverage in altcoin trading. Other analysts, including those from VanEck, also see a bullish trend for Bitcoin, with projections suggesting it could exceed $180,000 by next year. Bitcoin's value has increased by 30% since the elections.