Bitcoin has surpassed the $108,000 mark, with its price continuing to climb due to market enthusiasm and political influences.
At the time of writing, Bitcoin’s price had reached $108,223, marking a gain of over 2% in the past 24 hours. Since the recent elections, Bitcoin has surged by nearly 60%, largely driven by the pro-crypto stance of Trump’s administration. Trump has promised to create a strategic Bitcoin reserve and nominated Paul Atkins to lead the Securities and Exchange Commission (SEC), replacing the current chairman Gary Gensler, known for his hostility toward digital assets.
Corporate Interest in Bitcoin Grows
Bitcoin’s rise has also been fueled by increased adoption from corporations and institutions. More than 70 publicly traded companies now hold Bitcoin on their balance sheets.
Michael Saylor, Chairman of MicroStrategy, described Bitcoin as the “cyber Manhattan” of the digital age. “Every day is a good day to buy Bitcoin,” Saylor stated, comparing Bitcoin’s value to Manhattan real estate, which is always a solid investment. MicroStrategy began accumulating Bitcoin in 2020 and currently holds 439,000 BTC, worth approximately $46 billion.
Businesses Gain New Tools for Holding BTC
According to James Lavish, Managing Partner at the Bitcoin Opportunity Fund, the new FASB accounting rules now allow companies to hold Bitcoin on their balance sheets without penalties. “This is further legitimization of Bitcoin as a corporate asset,” Lavish added.
MicroStrategy to Join Nasdaq 100
Another positive development is that MicroStrategy will be added to the Nasdaq 100 index on December 23, further boosting market optimism.
Given the current momentum, analysts predict Bitcoin could reach prices between $150,000 and $200,000 by the end of 2025.

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As of December 18, 2024, the cryptocurrency market is experiencing a mix of highs and lows. The global market cap has reached an impressive $3.69 trillion, but Bitcoin has seen a slight dip after hitting a new all-time high just a day prior. Let’s dive into the latest price movements and market trends! 💹
Bitcoin (BTC) Price Update
Bitcoin is currently priced at $103,716.28, reflecting a 2.86% decrease over the last 24 hours. After reaching a peak of $108,250, the leading cryptocurrency has pulled back as investors take profits. In India, Bitcoin is trading at approximately ₹88.82 lakh.
Ethereum (ETH) and Other Altcoins
Ethereum is also feeling the pressure, with its price at $3,839.75, down 4.58%. In India, ETH is valued at ₹3.36 lakh. Other notable cryptocurrencies like Dogecoin (DOGE) and Ripple (XRP) have also seen minor dips, while Solana (SOL) has managed a slight gain of 0.22%, currently priced at $215.64.
Top Gainers and Losers
In a surprising turn of events, the Pudgy Penguins (PENGU) token has skyrocketed by an astonishing 509.21%, making it the top gainer of the day! 🎉 Here’s a quick look at the top gainers and losers:
Top Gainers:
Pudgy Penguins (PENGU): $0.03045 (+509.21%)Bitget Token (BGB): $4.15 (+14.86%)Litecoin (LTC): $122.31 (+4.79%)Hedera (HBAR): $0.2911 (+4.42%)Movement (MOVE): $0.6404 (+4.33%)
Top Losers:
Aptos (APT): $12.69 (-11.34%)Lido DAO (LDO): $2.04 (-9.08%)Fantom (FTM): $1.28 (-9.02%)Stacks (STX): $2.16 (-8.54%)Ethena (ENA): $1.07 (-8.12%)
Market Sentiment
The overall market sentiment remains strong, with the Fear & Greed Index sitting at 80, indicating "Extreme Greed." Despite the recent dip in Bitcoin's price, demand remains robust, with significant accumulation from Bitcoin whales totaling $7.28 billion over the past two days. 📈
Expert Insights
Market analysts are optimistic about Bitcoin's future. Edul Patel, co-founder of Mudrex, noted that while Bitcoin has seen a pullback, strong demand persists, and a positive outlook from the Federal Reserve could push Bitcoin back toward the $110,000 mark.
Avinash Shekhar, co-founder of Pi42, emphasized the importance of Bitcoin maintaining support above $102,000 to avoid a liquidity crunch. Meanwhile, Sathvik Vishwanath from Unocoin pointed out that Bitcoin's sustained position above $100,000 suggests potential upward momentum, with targets set at $110,000 and $120,000.
Regulatory Developments
The crypto market is also buoyed by encouraging news from U.S. lawmakers, who are advancing digital asset legislation. This commitment to regulatory clarity is seen as a positive sign for the future of cryptocurrencies.
Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Cryptocurrency is not legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer documents along with related important literature on the subject carefully before making any kind of investment whatsoever. Cryptocurrency market predictions are speculative, and any investment made shall be at the sole cost and risk of the readers.
🤔 What do you think? Share your theories and speculations in the comments below! 💬
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