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6mo ago

Bitcoin Poised to Break $100,000 Barrier After Historic Surge

The cryptocurrency's 2024 rally is fueled by regulatory shifts, institutional interest, and optimism about the incoming U.S. administration.

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This illustration photograph taken on November 22, 2024 in Istanbul shows a coin imitation of the Bitcoin crypto currency arranged beside a screen displaying a trading chart. Most markets gained Friday after a bounce on Wall Street, while bitcoin continued its march higher to move within touching distance of the $100,000 mark.
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Overview

  • Bitcoin's price has surged nearly 130% in 2024, reaching $99,347 and nearing the $100,000 milestone for the first time in its history.
  • The Securities and Exchange Commission's approval of Bitcoin exchange-traded funds (ETFs) in March has significantly boosted institutional investment in the cryptocurrency.
  • The recent post-election optimism surrounding President-elect Donald Trump's expected crypto-friendly policies has further fueled Bitcoin's rise.
  • Bitcoin now accounts for over 60% of the global cryptocurrency market value, marking a resurgence in its dominance after years of volatility and setbacks.
  • While Bitcoin's volatility has decreased compared to previous years, experts caution investors about potential risks during speculative price bubbles.