Bitcoin has achieved a major milestone, surpassing the $100,000 mark for the first time, following a full month of anticipation. In the early hours of Thursday, the flagship cryptocurrency reached an all-time high of $103,679, fulfilling analysts’ predictions of a year-end rally. The price surge was accompanied by a substantial increase in trading volume, which rose by 33%, reaching $91 billion. As of the time of writing, Bitcoin’s market capitalization stood at $2.03 trillion, marking another significant achievement for the crypto asset.
The rally that pushed Bitcoin above the $100,000 threshold can be traced back to the U.S. election week, with the price hovering around $68,682 on November 5. Following Donald Trump’s claimed victory, Bitcoin entered a bull run, smashing its previous all-time high of $73,737 and continuing its upward trajectory. The asset spent the remainder of November close to the $100,000 mark, reaching a high of $99,000 but not crossing it until now.
A few days ago, Bitcoin briefly retraced, dipping to $90,000, raising concerns about a potential price drop. However, recent developments have reignited the bullish sentiment, including Trump’s nomination of Paul Atkins as Chairman of the U.S. Securities and Exchange Commission (SEC), a move viewed as crypto-friendly. Additionally, Federal Reserve Chairman Jerome Powell’s comments acknowledging Bitcoin as a rival to gold have further bolstered the market’s confidence in the cryptocurrency.
Analysts’ New Price Predictions for Bitcoin
With Bitcoin’s successful breach of $100,000, analysts are now setting higher targets for the cryptocurrency. Bernstein Research has raised its 2025 price prediction for Bitcoin from $150,000 to $200,000, citing increasing institutional demand. Charles Hoskinson, the founder of Cardano, has even suggested that Bitcoin could reach $250,000 within the next two years, further fueling expectations of significant price gains for the crypto asset.
As the cryptocurrency market continues to gain momentum, Bitcoin’s breakthrough is setting the stage for future growth, with many now closely monitoring the next key price levels.
