As someone who has been observing and analyzing the cryptocurrency market since its inception, I must admit that this new all-time high for Bitcoin at over $100,000 USD is nothing short of astonishing. It’s like watching a rocket launch – each new milestone feels as exhilarating as the last.
The cost of Bitcoin soared to a record peak surpassing $100,000 for the very first time during early hours of Thursday, marking the first instance where it exceeded the six-figure milestone in US dollars.
Currently, the market value of Bitcoin exceeds a whopping $2 trillion, which is approximately $1.2 trillion more than its initial value at the beginning of this year.
The months of November and December have been remarkable for significant milestones in Bitcoin’s history. On November 28, 2017, the value of one Bitcoin surpassed $10,000 USD for the first time. Interestingly enough, four years earlier, on November 27, 2013, Bitcoin reached a value of $1,000 per coin for the first time.
Historically, Bitcoin tends to perform exceptionally well during the month of November, especially following a Bitcoin halving year. On average, returns for Bitcoin in November from 2010 to 2024 have exceeded 35%.
The recent achievement serves as confirmation that analysts from Standard Chartered were right when they forecasted Bitcoin reaching $100,000 by the end of 2024, a prediction they made as far back as last year.
At the end of October, Bitcoin surpassed $100,000 Canadian dollars ($CAD) for the first time, and within a few short weeks, its total worth eclipsed the combined value of all Canadian dollars.
The combined worth of Bitcoin now exceeds that of silver, and it has recently reached a fresh record peak in comparison to gold this month.
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2024-12-05 08:56