Bitcoin’s market cap has now surpassed $2 trillion for the first time. The market has been soaring to new highs in recent weeks due to the momentum generated by the U.S. Presidential election.
The election of Donald Trump, who has promised pro-cryptocurrency policies, contributed to Bitcoin’s surge. Since his victory in early November, Bitcoin’s price has climbed over 30%, reaching $93,400 on Nov. 13.
In November, the digital asset set new records. It reached $93,900 in Nov. 19; and $94,300 in Nov. 20. Bitcoin reached $98,200 on Nov. 21 before falling back to about $97,000. It was within 3% from the $100,000 mark. It was again denied the next day at $99600. This led to a fall to $90700 on Nov. 26.
Bitcoin, however, failed to keep the momentum going despite a rise in leverage. In the next few trading days, Bitcoin traded in a narrow sideways range of $93,000 to $97250. It finally recovered $99,000 on December 3.
As Asia started trading on December 4, it took Bitcoin three hours to break through the six-digit barrier. BTC is currently trading at $101,450, an increase of 6.64 percent over the previous 24 hours.
Bitcoin’s Price History
Bitcoin’s journey to $100,000 marks a significant milestone since its inception in 2009, when it held little to no monetary value. Bitcoin had its first ever recorded value in 2010, at less than $0.10. In February 2011, Bitcoin reached $1 and in June 2011 it briefly rose to $30. However, this early bubble burst, and Bitcoin’s price fell back to around $2 by the end of 2011.
Halving 2012-2013 and Major Rally
Bitcoin reached its highest level in November 2012. “halving”Event whereby the rewards for mining blocks were cut in half. Bitcoin reached $1,000 by the end of 2013 and this marked its first significant rally. Bitcoin’s volatility increased in the following years, with its price dropping to just $200 by 2015 before stabilizing at around $300 and then growing stronger.
Turning Point 2017
Bitcoin’s price soared from $1,000 to almost $20,000 in December 2017. Bitcoin’s surge into mainstream attention was immediately followed by what is known as the “Bear Market” in 2018. “crypto winter,”The cost of a car dropped from around $4,000 to about $3700 by the end the year.
Recovery from Pandemics and 2019-2020
Bitcoin’s price started to rise in 2019. By 2020, Bitcoin had reached nearly $29,000, even though the COVID-19 epidemic caused a steep drop in March. Bitcoin’s rally continued in 2021. It reached all-time records of $64,895 (in April) and $69,000 (in November). In 2022 the collapse of large crypto firms led to an important downturn. But Bitcoin started to recover in 2023. By the end the year, it had surpassed $40,000.
Breaking New Records in 2024
In 2024, the breach of $100,000 marks signifies an important moment in the cryptocurrency market. It reflects increased adoption by institutions, greater investor confidence and strategic Bitcoin Reserve legislation. Bitcoin’s ascent past $100,000 solidifies its position in global finance, underscoring its growing acceptance among investors and institutions alike.
Bitcoin Market Data
Press release On Dec. 5, 2024, 3:02 AM UTCBitcoin has the largest market capitalization and is currently trading at a price of You can also check out our Facebook page. 5.75% Within the past 24-hours. Bitcoin is valued at 2.01 trillion With a daily trading volume of $90.42 billion. Learn more about Bitcoin ›
Bitcoin
On Dec. 5, 2024, 3:02 AM UTC
$101,363.57
5.75% Crypto Market Overview
Press release On Dec. 5, 2024, 3:02 AM UTCThe crypto market has a total value of at 3.64 trillion dollars With a volume of 24 hours. $300.83 billion. Bitcoin is the dominant currency at this time. 55.12%. Learn more about the crypto market ›
Posts: Bitcoin, Adoption Analysis, Featured and Price Watch Author 
Liam ‘Akiba’ Wright
Also known as “Akiba,” Liam Wright works as a reporter at CryptoSlate, produces podcasts, and is the editor-in-chief. He believes decentralized technology can bring about positive social change.
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