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Bitcoin Surpasses $100,000, Reaches New All-Time High Amid Optimism Over Trump’s Crypto Plans

On December 5, Bitcoin hit a new all-time high, surpassing the $100,000 mark for the first time, driven by expectations of a favorable regulatory environment under President-elect Donald Trump. Bitcoin, the world’s leading cryptocurrency, reached $102,388.46, with its market capitalization increasing by 6.84% to $2.03 trillion, according to Coinmarketcap data. The cryptocurrency has more than […]

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Bitcoin Surpasses $100,000, Reaches New All-Time High Amid Optimism Over Trump’s Crypto Plans

On December 5, Bitcoin hit a new all-time high, surpassing the $100,000 mark for the first time, driven by expectations of a favorable regulatory environment under President-elect Donald Trump.

Bitcoin, the world’s leading cryptocurrency, reached $102,388.46, with its market capitalization increasing by 6.84% to $2.03 trillion, according to Coinmarketcap data. The cryptocurrency has more than doubled in value this year and has risen 45% since Trump’s victory in the U.S. elections on November 5.

Trump’s recent moves, including the nomination of Paul Atkins, a crypto supporter, to head the U.S. Securities and Exchange Commission (SEC), have sparked expectations of a crypto-friendly regulatory environment. These developments have fueled optimism among investors and industry experts.

“We’re witnessing a paradigm shift. After four years of political challenges, bitcoin and the entire digital asset ecosystem are on the brink of entering the financial mainstream,” said Mike Novogratz, founder and CEO of Galaxy Digital.

Bitcoin’s recent milestone of crossing $100,000 has been described as a reflection of the shifting dynamics in finance, technology, and geopolitics, according to Justin D’Anethan, a Hong Kong-based crypto analyst.

Trump has expressed support for digital assets during his campaign, pledging to make the U.S. the “crypto capital of the planet” and to accumulate a national stockpile of bitcoin. Crypto investors are hopeful that Trump’s incoming administration will ease regulatory pressure, especially after SEC Chairman Gary Gensler’s departure in January.

In a broader push, crypto companies such as Ripple, Kraken, and Circle are vying for positions on Trump’s proposed crypto advisory council. Trump’s personal involvement in the sector, including the launch of his crypto business, World Liberty Financial, has further heightened expectations.

The rapid rise in Bitcoin’s value comes after a turbulent period, including a sharp drop below $16,000 in late 2022. The approval of U.S.-listed Bitcoin exchange-traded funds (ETFs) in January 2024 has played a key role in Bitcoin’s resurgence. ETFs have allowed more institutional investors to enter the market, contributing to the cryptocurrency’s recent rally.

However, critics continue to raise concerns about the industry’s energy consumption and the potential for crypto-related crime. As Bitcoin’s price continues to climb, market watchers are keeping a close eye on the developments, with some speculating that the cryptocurrency could reach $120,000 by Christmas.

Despite the volatility, the momentum behind Bitcoin is undeniable, driven by institutional adoption, clearer regulations, and growing mainstream acceptance of digital assets.

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