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Bitcoin, the biggest cryptocurrency in the world based on market value, has reached a new all-time high of $100,000. After the currency faltered for a few weeks, this milestone has led to a huge increase in market confidence. At the time of writing, the market capitalization had also increased by 5.74% to $2 trillion.
CoinMarketCap statistics from December 5th shows that the price continued to rise, reaching $103,700, while volume trade increased by 33% to $91 billion. At up to 80%, the primary market attitude is likewise positive.
Trump's appointment of Paul Atkins as the Securities and Exchange Commission's (SEC) chairman has bolstered the price movement and improved market mood. Congressman Tom Emmer and Brad Garlinghouse of Ripple even back these nominations because of his pro-crypto views.
The fact that Fed Chairman Jerome Powell acknowledged Bitcoin as a competitor to gold also provides insight into why this digital currency was formerly seen as a safe-have asset class.
Even after the $100,000 goal was unlocked, crypto celebrities and organizations continue to think that Bitcoin would continue to increase. A revised objective for the coming years, with a funding range of $150,000 to $500,000.
For the year 2025, Bernstein Research has set a lofty goal price of $200,000. Rising institutional demand in several regions necessitated an increase from the original expectation of $150,000.
Charles Hoskinson, founder of Cardano, predicts that Bitcoin's price might reach $250,000 in the next two years. He thinks that $500,000 is the maximum goal, but the target price is the minimum.
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