With Bitcoin Bullish, How Soon Should We Expect a New Record High?

Bitcoin (BTC) has surged to $63,809 (BTC/USD) after the Fed interest rate cuts and a positive unemployment report. Is it headed for a new record high soon?

Bitcoin is now just 14% away from its record high, and we expect that the coin has great potential to set a new record before the end of the year. With multiple factors at work to spur Bitcoin’s growth, the crypto token could be headed for a milestone in the near future.

We have not seen Bitcoin achieve such high numbers since early in August, and it is significant how much of an impact the recent rate cuts have had on the token. Across the cryptocurrency market, we are seeing similar reactions, with Ethereum (ETH), Solana (SOL), and Shiba Inu (SHIB) shooting up. Much of the crypto market is high today, but investors are wondering whether this bullish trend is going to be short-lived or if the coins will retain much of their gains.

Where Is Bitcoin Headed?

Bitcoin in particular looks like it may be able to hold onto some of the recent progress. Analysts have been expecting a return toward $65K very soon, and Bitcoin is making good on that.

The question now is when Bitcoin might hit a record high. That would definitely improve public sentiment around Bitcoin. Investors should keep in mind that in 2025, the Fed is planning to cut another 10 basis points, which could cause Bitcoin to shoot up even further. This may be a great time to buckle down on investing in the coin as inflation diminishes, and the economy looks brighter.

Bitcoin could reach a record high as soon as November, if the economy continues to make a steady recovery. The recent unemployment and CPI data points toward that happening. 

ABOUT THE AUTHOR See More

Timothy St. John

Financial Writer - European & US Desks

Timothy St John is a seasoned financial analyst and writer, catering to the dynamic landscapes of the US and European markets. Boasting over a decade of extensive freelance writing experience, he has made significant contributions to reputable platforms such as Yahoo!Finance, business.com: Expert Business Advice, Tips, and Resources - Business.com, and numerous others. Timothy's expertise lies in in-depth research and comprehensive coverage of stock and cryptocurrency movements, coupled with a keen understanding of the economic factors influencing currency dynamics. Timothy majored in English at East Tennessee State University, and you can find him on LinkedIn.

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