Bitcoin has reached a historic milestone, surpassing $100,000 for the first time, according to TradingView data. The cryptocurrency broke this psychological barrier just weeks after reaching $90,000 in November. The price surge marks a year of significant growth, with Bitcoin’s market capitalization reaching a new high of over $2 trillion.
The recent price rally is attributed to various factors, including speculation about Bitcoin being used as a national reserve and increased adoption by corporations. Donald Trump’s victory in the US presidential election has also contributed to this sentiment, with some speculating that his administration may take a more pro-crypto stance.
Bitcoin’s value has increased by 126% since January, when it was trading at around $44,000. This growth is largely due to supply chain changes, including Bitcoin’s fourth halving in April, which reduced the cryptocurrency’s total supply.
While some may view this price surge as a sign of market frenzy, others see it as a reflection of growing demand for Bitcoin. The cryptocurrency has seen significant adoption by corporations, with companies like MicroStrategy investing heavily in Bitcoin.
The historic price milestone comes after some of the most notable price surges in Bitcoin’s history, including its 1,900% increase from $1,000 to $20,000 in 2017 and its 1,250% rise from $5,100 to $69,000 in 2020.
Source: https://cointelegraph.com/news/bitcoin-price-hits-100-000-first-time-new-all-time-high