The dominant rally of the top cryptocurrency in the world is not yet over, with Bitcoin skyrocketing to an all-new record valuation by crossing over the $100,000 threshold and setting its most recent milestone. This impressive performance by Bitcoin in the market is nowhere near ending as despite seeming stagnant and only flirting the $100k valuation earlier this week, it went on to break records.
Not only is this an all-time high record for Bitcoin, but it also makes history as the first cryptocurrency to achieve the celebrated $100,000 valuation, doing so before the year ended as previously predicted.
Bitcoin Rises Over $100,000 Valuation Earlier Today
It did not take Bitcoin next year and Trump’s return to the White House to break its records as the top cryptocurrency has now crossed over the $100,000 valuation after coming close to it two weeks ago. On Wednesday night (December 4), Bitcoin rose over the challenges it faced and proved that it could achieve its $100,000 milestone according to CNBC’s report.
Previously, this was only a prediction by crypto bulls and fans who are also supporters of President-elect Donald Trump, best known for his significant claims of a crypto future in America and making Bitcoin a ‘superpower.’
It was reported that Bitcoin’s humongous move towards the $100,000 valuation was prompted by Trump’s appointing of Jerome Powell as the new SEC chair and Federal Reserve chair. Additionally, this also came after the S&P 500 and Nasdaq Composite registered new closing records.
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New All-Time High, 140 percent Surge in 2024
Bitcoin also achieved a new all-time high after its recent rally, reaching its peak of $103,844.05 this Wednesday before the market closed. For Bitcoin’s 2024 performance, the top cryptocurrency saw a 140 percent surge for the year, and since November 5, a.k.a. election day, the top coin grew 48 percent.
Powell also shared his sentiments behind Bitcoin, saying that the top cryptocurrency is like gold but digital, and claimed that it is not the US dollar’s competitor, but the prestigious rare earth metal. It remains unknown what the Trump administration has in store for Bitcoin and cryptos, but these are expected to be great things that may help rally it more in the future.
Predictions Are Now a Reality for Bitcoin
Bitcoin defied expectations this year by surging to new record valuations despite its significant challenges in the few months after 2024’s second half where it dipped to surprisingly low numbers. However, Bitcoin believers and crypto bulls claimed that it would not be a problem come year’s end as the top cryptocurrency will achieve a $75,000 valuation.
All of Bitcoin’s previous problems went away after the 2024 US Presidential elections and when Trump was named the winner, as whales and BTC fans banded together to rally for the coin and achieved a new all-time high of $75,000. That being said, its significant performance did not end there as the top coin went on to defy expectations and climb to $80k, and then to $90,000.
Two weeks ago, Bitcoin was shy of only hundreds of dollars to reach $100,000, but it settled for $98k after the massive rally, and last week it stayed at around $95,000 to $98,000 comfortably. However, Bitcoin changed the narrative this first week of December by crossing over the $100,000 threshold and recording a new all-time high of $103,000 with investors already looking at what its future holds.
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