Bitcoin hits historic $100,000 price level as 1,000 sats now equal $1

For the primary time, Bitcoin has surpassed the $100,000 mark, pushing its market capitalization to $2 trillion. This milestone follows a sequence of recent all-time highs over the previous few weeks, fueled by market momentum after the U.S. presidential election.

The election of Donald Trump, who has promised pro-cryptocurrency insurance policies, contributed to Bitcoin’s surge. Since his victory in early November, Bitcoin’s value has climbed over 30%, reaching $93,400 on Nov. 13.

The digital asset continued to set information, hitting $93,900 on Nov. 19 and $94,300 on Nov. 20. On Nov. 21, Bitcoin soared to $98,200 earlier than retracing to round $97,000, coming inside 3% of the $100,000 milestone. The next day, it was denied once more at $99,600, which led to a decline to $90,700 by Nov. 26.

By Nov. 29, Bitcoin managed to reclaim $98,000 once more however didn’t maintain the momentum amid a surge in leverage to all-time highs. The following few days noticed the flagship crypto buying and selling in a decent sideways vary between $93,000 and $97,250 earlier than lastly reclaiming $99,000 late on Dec. 3.

Bitcoin took three hours from there to decisively break the six-figure degree as Asia started Dec. 4 buying and selling. BTC was buying and selling at $101,450 as of press time, up 6.64% over the previous 24 hours.

Bitcoin’s Worth Historical past

Bitcoin’s journey to $100,000 marks a big milestone since its inception in 2009, when it held little to no financial worth. The primary recorded value of Bitcoin was in 2010 when it was value lower than $0.10. By February 2011, Bitcoin had reached $1, and later in June 2011, it briefly exceeded $30. Nevertheless, this early bubble burst, and Bitcoin’s value fell again to round $2 by the top of 2011.

2012-2013: Halving and Main Rally

In November 2012, Bitcoin skilled its first “halving” occasion, the place the reward for mining new blocks was lower in half. By the top of 2013, Bitcoin had reached $1,000, marking its first main rally. The years following noticed Bitcoin undergo important volatility, together with a decline to round $200 in 2015 earlier than slowly stabilizing and rising stronger by 2016.

2017: The Turning Level

2017 marked a turning level for Bitcoin, as the worth began at round $1,000 and skyrocketed to just about $20,000 by December. This surge introduced Bitcoin into the mainstream highlight, but it surely was adopted by a chronic bear market in 2018 referred to as the “crypto winter,” the place the worth fell to round $3,700 by the top of the yr.

2019-2020: Restoration and Pandemic Impression

The worth started to get better in 2019, and by 2020, regardless of the COVID-19 pandemic inflicting a pointy drop in March, Bitcoin ended the yr at almost $29,000. The rally continued into 2021, with Bitcoin reaching new all-time highs of $64,895 in April and $69,000 in November. The collapse of main crypto corporations in 2022 led to a big downturn, however Bitcoin started to get better once more in 2023, surpassing $40,000 by the top of the yr.

2024: Breaking New Information

The breach of the $100,000 mark in 2024 signifies a pivotal second for the crypto market, reflecting elevated institutional adoption, investor confidence, and strategic Bitcoin reserve laws. Bitcoin’s ascent previous $100,000 solidifies its place in world finance, underscoring its rising acceptance amongst traders and establishments alike.