Bitcoin hit a new all-time high of $100,000 for the first time in history after the price increase of 5% on the day of trading.
Bitcoin, the world’s largest cryptocurrency by market capitalization, just hit a targeted price of $100,000 as a new all-time high. This milestone has significantly raised market confidence after the coin stumbled in a few weeks. The market cap also surged to $2 trillion, or an increase of 5.74% at the time of writing.
According to CoinMarketCap data on Dec. 05, the price kept surging and reached $103,700, with volume trading rising 33% to $91 billion. The major market sentiment is also bullish, at up to 80%.
The price movement has been supported by Trump’s nomination for Paul Atkins as Chairman of the Securities and Exchange Commission (SEC), bringing a positive sentiment to the market. Ripple’s Brad Garlinghouse and Congressman Tom Emmer even support these nominations due to his stance as pro-crypto
Fed Chairman Jerome Powell’s acknowledgement of Bitcoin as a rival to gold also gives a perspective that this digital asset was commonly known as a safe-have instrument asset class.