Bitcoin break $100,000 for the first time in the history

Bitcoin reached an all-time high of $100,000 for the first time in history after a 5% price increase on the trading day.

Bitcoin (BTC), the world’s largest cryptocurrency by market cap, has reached its all-time high target price of $100,000. This milestone significantly boosted the market’s confidence after the cryptocurrency stumbled within a few weeks. Its market capitalization also reached $2 trillion, an increase of 5.74% at the time of writing.

According to data from CoinMarketCap on December 5, the price continued to rise, reaching $101,000; Transaction volume also increased by 28% to 88 billion dollars. Mainstream market sentiment is also bullish, up to 80%.

1-Hour BTC price chart, 05 December 2024 | Source: crypto.news

The price action was supported by Trump’s nomination of Paul Atkins to head the Securities and Exchange Commission (SEC), adding positive sentiment to the market. Ripple’s Brad Garlinghouse and Congressman Tom Emmer even support these nominations due to their pro-crypto stance

Fed Chairman Jerome Powell’s acceptance of Bitcoin as a rival to gold also provides perspective that this digital asset is generally known as a safe asset class.

Bitcoin aims for more

Beyond the $100,000 target price that has already been opened, many institutions still believe that Bitcoin will grow in the future. A new goal is $150,000 to $500,000 over the next few years.

Bernstein Research has an ambitious, bullish target price of $200,000 for 2025. This estimate has been updated from $150,000 due to increased institutional demand in many locations.

Cardano founder Charles Hoskinson predicts that the Bitcoin price will rise to $250,000 in just 2 years. He believes the target price is the lowest achievable target but $500,000 is the highest target.