The price of Bitcoin arrived at a new All Time High (ATH) on the 5th of December 2024, with BTC price hitting $103,600. This happened in the beginning hours of the Asian Trading session. This remarkable surge in Bitcoin price has been long expected.
This increase came few hours after Paul Atkins, who is a cryptocurrency upholder, was nominated as the United States Securities and Exchange Commission Chair by Donald Trump. Bitcoin experienced the massive surge in price above $100k, after Donald Trump made this official.
Bitcoin price has in previous week been moving sideways, before it broke above the $100,000 mark. Speculators suggest that this rise in price of Bitcoin is connected to 2024 United States Presidential Election, been won by Donald Trump.
Magadini Greg, who is the Director of Derivatives at Amberdata; a company that analyzes cryptocurrency said that the main reasons for the surge in Bitcoin price was - cryptocurrency tax policy, advanced reserves of Bitcoin, and Bitcoin Exchange Traded Funds (ETFs) continuous inflows.
That is actually a very good news in the crypto space and I am so sure it will just continue to get better and better. Who knows, we might be seeing BTC hitting 150k soon
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit