Bitcoin records new all-time high surpassing highly anticipated $100,000 mark  

The primary crypto asset in the early hours of Thursday hit a new all-time high of $103,679 fulfilling Analyst predictions of the token crossing the $100,000 mark before the end of the year.

Bitcoin’s price level is not the only milestone broken by the asset today. The crypto asset market capitalization also crossed the $2 trillion mark settling at $2.03 trillion at the time of writing this report.

Bitcoin Price in the early hours of today kept surging reaching $103,679 with its volume trading rising by 33% to 91 billion. The major market sentiment is also bullish hitting 80% during the price surge.

Bitcoin’s rally to the $100,000 price mark could be traced back to the United States election week. The flagship crypto asset was at $68,682 on November 5 the election day.

The march to $100,000 started after election day with Donald Trump claiming victory in the polls.

Donald Trump largely perceived as a crypto-friendly president instigated the November bull run from that moment with Bitcoin smashing its all-time high of $73,737 days later.

Bitcoin spent the rest of the month hovering near the $100,000 price mark, recording price levels up to $99,000 but never crossing the $100,00 mark.

Few days ago, the crypto asset retraced falling as low as $90,000 and raising concerns of a further price drop.

The asset finally crossed the $100,000 mark today following some new developments that helped push the asset over the line.

Bitcoin tipped $100,000 following the nomination of Paul Atkins as Chairman of the Securities and Exchange Commission. Paul Atkins was nominated by Donald Trump bringing positive market sentiments to the industry.

This development was followed by Fed Chairman Jerome Powell’s acknowledgment of Bitcoin as a rival to gold adding more credibility to Bitcoin and the crypto industry at large.

Bitcoin finally crossing the $100,000 price mark has opened up the doors for a barrage of new predictions by analysts on what will be its next significant price level. Many Analysts who called the Bitcoin crossing $100,000 price level before the end of the year are now setting new targets for the crypto asset for 2025.