Bitcoin Surpasses $100,000: All-Time High
Date: 2024-12-05 Author: Henry Casey Categories: CRYPTO PAYMENTS
Bitcoin, the world’s largest cryptocurrency by market cap, has hit a record price of $100,000 for the first time in its history. The landmark moment has sparked a wave of optimism among investors, especially after a difficult period of volatility. The cryptocurrency’s market cap has also surged to $2 trillion, up 5.74% at the time of writing.
According to CoinMarketCap data as of December 5, 2024, Bitcoin has continued to rise, reaching $103,700. Trading volume has increased by 33%, reaching $91 billion. Positive sentiment is prevalent in the market, with around 80% of participants rating the cryptocurrency’s outlook as bullish.
One of the key reasons for the sharp rise in the price was the appointment of Paul Atkins as the Chairman of the US Securities and Exchange Commission (SEC). This event raised positive expectations, as Atkins is known for his loyalty to the cryptocurrency industry. His appointment was supported by such influential figures as Brad Garlinghouse of Ripple and Congressman Tom Emmer.
Bitcoin received an additional boost from the words of the Chairman of the US Federal Reserve, Jerome Powell, who called Bitcoin a “competitor to gold”. This statement strengthened the status of the digital currency as a reliable safe-haven asset.
Exceeding the $100,000 mark was only the beginning for new ambitious goals. Analysts and crypto market leaders expect further growth in the price of Bitcoin. New forecasts range from $150,000 to $500,000 in the coming years.
Bernstein Research has revised its 2025 forecast up from $150,000 to $200,000 due to growing institutional interest.
Cardano founder Charles Hoskinson predicts Bitcoin will reach $250,000 within two years. He sees this figure as a minimum target, while a more optimistic forecast reaches $500,000.
Bitcoin is once again demonstrating its leadership in the world of digital assets, proving that even after short-term declines, it remains a key player in the market.
