Bitcoin crosses the $100,000 mark for the first time

After breaking the $80,000 barrier less than a month ago, Bitcoin has now soared past the $100,000 mark, a remarkable milestone for a cryptocurrency that was valued at less than $0.10 when it began trading 15 years ago.

Bitcoin reached this unprecedented height on December 4 and rose as high as $103,844 during the evening hours. At the time of publishing this article, it was hovering around $102,357, as per Coin Metrics. Bitcoin’s value has more than doubled in 2024 and crypto investors are optimistic the coin will continue its upward trajectory as the Trump administration takes charge of the office in January.

Their optimism isn’t unfounded. The upcoming Trump administration has already made it clear that it’s going to be much friendlier to the crypto industry and has vowed to implement a swath of policies aimed at making cryptocurrencies more mainstream. It’s all part of Trump’s promise to make the United States “the crypto capital of the planet and the Bitcoin superpower of the world.”

Bitcoin crossed the long-awaited $100,000 milestone hours after President-elect Donald Trump nominated Paul Atkins to head the Securities and Exchange Commission. Mr. Atkins is a prominent backer of the crypto industry and served as an SEC Commissioner from 2002 to 2008. He will replace current SEC Chair Garry Gensler, a figure disliked by the crypto circles for his hardline stance on regulating the crypto market.

It's a big day for crypto believers, but it remains to be seen how long the upward trend will continue. According to Crypto expert Clem Chambers, Bitcoin could possibly touch the $120,000 mark before entering the reverse cycle. As he writes in his latest column for Forbes:

"I’m not a permanent bull and while I’ve been right so far, if I’m right about what is coming next, we are in the final run and then after a terminal high we are in for that famous bitcoin crash action we should all be familiar with."