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Bitcoin makes history, crosses $100k threshold
For the first time since it was launched, Bitcoin, the world’s most valuable cryptocurrency by market capitalisation, reached a threshold of $100,000 on Thursday, December 5, 2024.
Bitcoin reached an all-time high of $103,587 at 5:05 am (GMT+1) on Thursday, after closing at $98,318.24 on Wednesday, according to CoinMarketCap, a price-tracking website for crypto assets.
However, Bitcoin has settled at $102,635.02 at 9:14 am (GMT+1).
The cryptocurrency market capitalisation has also increased to $3.81 trillion – gaining $477 billion in 24 hours.
A breakdown of the cryptocurrency market capitalisation showed that Bitcoin accounts for 52.8 per cent, while Ethereum, trading at $3,860 (the second largest cryptocurrency), holds 12.1 per cent – with other coins sharing the remaining 35.1 per cent.
READ ALSO: Again, Bitcoin price hits all-time high at $89,000
Bitcoin has been on a steady rise since Donald Trump, a Republican Party candidate, won the US presidential election, with the digital asset reaching $75,000 the same day.
On November 10, the cryptocurrency crossed $80,000, two days later, it reached $89,000, and on November 13, the bitcoin surged past $92,000.
The rally was buoyed by Trump’s signals of support for the market.
Trump had spurred expectations that his administration would foster a crypto-friendly regulatory environment.
By: Babajide Okeowo
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