Bitcoin was trading just shy of $90,000 Monday night after breaching $80,000 just a day earlier. The flagship cryptocurrency was last higher by 12% at $89,100, according to Coin Metrics. Earlier Monday, it rose as high as $89,623.00. Its price is expected by many investors to continue making fresh records on its way up to $100,000 later this year. “Bitcoin is now in price discovery mode after breaking through all-time highs early last Wednesday morning when it was officially declared that Trump won the election,” said Mike Colonnese, an analyst at H.C. Wainwright. “Strong positive sentiment is likely to persist through the balance of 2024 and [we] see bitcoin prices potentially reaching the six-figure mark by the end of this year.” Crypto investors have been cheering President-elect Donald Trump’s promises to make the regulatory environment more supportive and even friendly toward crypto businesses, which have long struggled with a lack of clarity of the rules of the road. While bitcoin has long been deemed a safe asset in Washington – that is, not subject to securities laws – the long tail of cryptocurrencies and crypto-related startups have been operating in a risky grey area. “That’s just shifted 180 degrees,” Matt Hougan, chief […]