Given that you'd struggle to buy a coffee with bitcoin (BTC-USD) in many places, the token's frequent rallies over the years have been held up as a sign of market froth. Since Donald Trump's election win, however, even some skeptics are considering it as an investment bet.

Across the sector, all eyes have been on bitcoin, which has made massive gains over the past week, reaching a new all-time high of $93,500 (￡73,785) on Wednesday. At the time of writing, it was trading at $91,000. This is a rise of more than 34% since Trump's victory.

Many are considering its rally a "big bang" moment that is impossible for even hardened skeptics to ignore, as the FT reported.

Trump himself was once a crypto sceptic and suggested that the sector would probably need to be regulated in the face of its rising popularity. Those days are long gone, as the president-elect has since gone all in on bitcoin, launching a much-hyped but ultimately faltering crypto platform, and appearing at the Bitcoin2024 conference in Nashville.

Analysts have been endlessly speculating that bitcoin's price could reach $100,000 as soon as Christmas. Given its surge this week, this seems more likely than ever but we were keen to hear what our readers thought.

In our poll of the week, we asked readers whether they thought the analysts were correct or misplaced about the $100,000 figure.

At the time of writing, our poll had received 893 votes, with 69% voting yes, 23% voting no and 8% undecided.

However high the price soars in the next few weeks, it's clear that the bitcoin buzz is not likely to die down. If you're thinking of investing but are unsure whether it's the right time, here's what you should know before you decide.

Read more:

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