Bitcoin hits $100,000 again – Is this the start of a new bullrun?

Geopolitical tensions between China and the United States are calming. An upcoming meeting by Trade Minister Scott Bessent with his Chinese counterpart in neutral Switzerland provides a sea of tranquility for markets. At least, that’s what you can hope for as a Bitcoin investor, because it was mainly this news that pushed the largest digital currency back above the $100,000 level again yesterday. It is unclear whether this is the start of a new bull run, but several analysts find the news from Switzerland very positive.

Bitcoin is trading now for $104K.

Switzerland

Meanwhile, Standard Chartered, the British bank, has already revised its short-term price target for Bitcoin. According to analyst Geoffrey Kendrick, his previous analysis, which predicted a maximum price of $120,000 by the end of the second quarter, is now simply too low. Kendrick believes Bitcoin could reach a price of $200,000 by the end of this year.

BREAKING: Bitcoin rises above $100,000 for the first time since February 7th. pic.twitter.com/AT0NYvQnff

— The Kobeissi Letter (@KobeissiLetter) May 8, 2025

In particular, the news that the Swiss National Bank had started buying Microstrategy shares, which is basically the same as a Bitcoin hodl strategy, made analysts very positive.

Bitcoin crossed the psychologically important $100,000 level for the first time since February of this year on Thursday and indeed seems to be on its way to doing the same thing in May as it did in April, namely setting itself up for another bull run.