Bitcoin hits $100,000 for the first time

Bitcoin price claimed a new all-time high above $100,000 on Thursday morning, the first time the asset has broken six figures in USD value.

At this price, Bitcoin’s market cap is well above $2 trillion, about $1.2 trillion more than where it was at the beginning of the year.

November and now December have been the magical months of similar achievements. Bitcoin reached five figures per coin ($10,000) on November 28, 2017. It reached four figures per coin ($1,000) on November 27, 2013.

The best performing month for Bitcoin historically, on average, is November, especially during or after a one-year Bitcoin halving. Between 2010 and 2024, its average return in this month exceeds 35%.

The new milestone has proven that Standard Chartered analysts were right, who predicted that BTC would reach $100,000 by the end of 2024 as early as last year.

In late October, Bitcoin broke above 100,000 Canadian dollars ($CAD) for the first time and reversed the entire value of all Canadian dollars a few weeks later.

Bitcoin’s total value has also reversed that of silver, with the asset hitting a new all-time high against gold this month.

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