FameEX Hot Topics | Bitcoin Price Breaks $100K Mark for the First Time in History

Bitcoin has reached an all-time high of $100,000, marking a significant milestone in its history and reflecting a 126% increase since the beginning of the year. This surge is attributed to multiple factors, including the growing demand for Bitcoin ETFs, the effects of the fourth halving event in April, and the political climate surrounding the U.S. presidential election. The cryptocurrency market has seen impressive growth this year, making Bitcoin's price breakthrough a landmark event for both investors and enthusiasts.

On December 5, Bitcoin achieved the $100,000 mark, surpassing a critical psychological barrier. Just weeks earlier, on November 12, Bitcoin had crossed the $90,000 threshold, according to TradingView data. Over the course of the year, Bitcoin has also seen over $31 billion in net inflows from spot Bitcoin ETFs in the U.S., while its supply has become more constrained following the halving event, further driving up its value.

A key factor in Bitcoin's price rally has been the election of Republican Donald Trump as U.S. president. His victory has spurred speculation about a national Bitcoin reserve and has contributed to increased corporate adoption of Bitcoin, spearheaded by leaders like MicroStrategy’s Michael Saylor. These shifts have sparked a renewed interest in Bitcoin, positioning it as both an investment asset and a potential store of value.

Additionally, Trump’s nomination of crypto advocate Paul Atkins to replace Gary Gensler as chair of the SEC could ease regulatory challenges for the crypto industry, signaling a more favorable environment for digital assets.

While Bitcoin’s 2024 rally has been significant, it is not the most explosive in its history. In 2017, Bitcoin saw a 1,900% surge, climbing from $1,000 in January to $20,000 by December. Another notable rally occurred between 2020 and 2021, when Bitcoin skyrocketed 1,250% from $5,100 to $69,000 during the COVID-19 pandemic.

Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.