⚡On December 5, 2024, Bitcoin surpassed the $100,000 mark for the first time in history. This milestone was driven by several key factors. The supply shock following the April 2024 halving and heightened investor interest in spot Bitcoin ETFs created a coin shortage. Additionally, Donald Trump’s victory in the presidential election and his pro-crypto stance boosted the market.
⚡Further optimism was fueled by rumors of crypto advocate Paul Atkins potentially being appointed as SEC chair, along with Federal Reserve Chair Jerome Powell likening Bitcoin to gold.
⚡Experts suggest the market has yet to reach an “extreme greed” phase, leaving BTC with potential for further highs. Some analysts predict a rally to $107,000 following a possible short-term correction.