Bitcoin breaks $100,000! A historic milestone

06 December 2024

For the first time in history, Bitcoin (BTCUSD) has crossed the $100,000 mark, rising 40% in just one month!

Experts say this sharp rise is linked to Donald Trump’s victory in the U.S. presidential election. Analysts believe the crypto market is reacting to Trump’s promises to simplify regulations and make the U.S. the “crypto capital of the world.” At its peak, Bitcoin reached $104,500 per coin!

During his campaign, Trump actively promoted cryptocurrencies: accepting Bitcoin donations, using crypto for purchases, and highlighting blockchain as the future of the economy. The day after his election win, Bitcoin’s price jumped from $68,000 to $74,000 and then started to climb even faster as excitement grew around his plans.

What does this mean for global markets?

• U.S. economy: Hopes for easier regulations are increasing demand for crypto in the U.S. and bringing more investment into blockchain technology. Trump’s choice of Paul Atkins, a known crypto supporter, as the head of the SEC could speed up decisions that benefit the industry.
• Global competition: Analysts think other countries might start buying Bitcoin to keep up with the U.S. This could create a global race for digital currency and push prices even higher.

What should traders expect?

• More volatility: Bitcoin’s fast rise could lead to bigger price swings. While this offers short-term trading possibilities, a clear trend could also let traders profit from price corrections.
• Altcoin growth: After Bitcoin’s surge, attention often shifts to altcoins. In the past, such events have boosted Ethereum (ETHUSD) and other projects. Solana (SOLUSD), the second-largest altcoin by market cap, is already trading at around $240, and experts believe it could go higher.
• Institutional buying: With Trump supporting crypto, more big investors may join the market. This could bring steady growth. Companies like MicroStrategy (#MicroStrgy), led by Michael Saylor, have already been buying Bitcoin, and Trump’s presidency could inspire others to follow.

Donald Trump’s election win and his crypto-friendly stance have caused a historic Bitcoin rally. This trend is opening new doors for traders.

FreshForex analysts believe this growth is a turning point in crypto history! With Trump’s inauguration and a possible altcoin season ahead, now is the time to take your chance and become a crypto millionaire!

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