Bitcoin Hits All-Time High Of $100,000: Trump’s Victory, Regulatory Optimism Usher In Crypto’s New Era

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Last updated on: 5 December 2024

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Bitcoin has made history by surpassing the $100,000 mark for the first time!

This milestone comes amid a significant bull run following the US presidential election, with President-elect Donald Trump promising a more crypto-friendly regulatory environment.

And so far keeping his word! His first power move was selecting crypto ally Paul Atkins as the Securities and Exchange Commission (SEC) Chair

Bitcoin’s Historic High #BTC100k

Bitcoin reached an all-time high of $103,900 late on Wednesday before slightly retreating to around $103,100. This marks a 7.62% increase in just 24 hours.

And we see the crypto community celebrating.

#Bitcoin has hit six digits, passing $100K for the first time! A historic win for the crypto community. pic.twitter.com/Xp58msSN0I

— Binance (@binance) December 5, 2024

Don’t miss the trending #btc100k on X today.

We did it 🚀$BTC 100K 🔥#btc100k pic.twitter.com/0Zwhx4Zz8y

— Aethir (@AethirCloud) December 5, 2024

Since the election on 5 November 2024, Bitcoin’s price has soared by over 36%, rising from approximately $75,600 to its current levels.

Furthermore, Ethereum, another major cryptocurrency, also benefited from Bitcoin’s momentum, climbing to $3,870, a 5.4% increase in the same period.

Explore: Where, When, and How to Buy Bitcoin in 2024? A Beginner’s Guide

Driving Forces Behind BTC Surge

The recent surge in Bitcoin’s price can be attributed to several factors. Trump’s announcement to appoint Paul Atkins, a known cryptocurrency advocate, as the chair of the SEC, is seen as a positive move by the crypto community.

Moreover, Trump pledged to transform the US into the “crypto capital of the planet.” He also proposed creating a national reserve of Bitcoin. His administration is expected to reduce regulatory scrutiny on cryptocurrencies, which has been welcomed by industry players.

The launch of Bitcoin exchange-traded funds (ETFs) earlier this year by major financial institutions like BlackRock and Fidelity has significantly increased institutional interest in Bitcoin. These ETFs have allowed a broader range of investors to gain exposure to Bitcoin without directly purchasing it.

And now, the psychological milestone of $100,000 is attracting new investors! Market sentiment is bolstered.

This rally is also solidifying Bitcoin’s status as not only a leading financial innovation but also a hedge against traditional economic uncertainties. There has been a noticeable increase in trading volumes on major exchanges as both retail and institutional investors seek to capitalize on the current market conditions.

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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Akriti Seth

Akriti Seth is a Zurich-based Business Journalist and Crypto Editor. Her passion for journalism has taken her across the globe – from thriving as an on-television correspondent to writing engaging articles, she has worked for companies like Informa UK, Bloomberg… Read More