BTC Price – Bitcoin Surpasses $100,000 and Reaches $2 Trillion Market Cap

BTC Price Surge: Is Bitcoin’s $2 Trillion Market Cap the Start of a New Bull Run?

BTC Price – Bitcoin (BTC) has crossed a significant milestone, surpassing the $100,000 mark for the first time and achieving a $2 trillion market cap. As of the latest data, Bitcoin’s price stands at $102,800, placing its market cap at a massive $2.034 trillion, according to Cointelegraph Markets Pro and TradingView. This milestone catapults Bitcoin into the position of the seventh-largest asset in the world, surpassing silver and major global companies such as Meta and Saudi Aramco.

Bitcoin’s Rise Marks a Historic Moment for the Crypto Market

Bitcoin’s ascent to $100,000 has attracted significant attention, with the cryptocurrency now being valued higher than some of the largest companies and precious metals. This move occurred just minutes after Bitcoin crossed the $100,000 threshold, marking an unprecedented moment in cryptocurrency history. The Kobeissi Letter remarked on this significant shift, highlighting the rapid pace of Bitcoin’s rise.

The surge in Bitcoin’s value coincided with remarks from Jerome Powell, the chair of the United States Federal Reserve, who reiterated on December 4 that he views Bitcoin as a competitor to gold. Powell’s statement emphasized Bitcoin’s role as a speculative asset, drawing a parallel with gold, albeit in digital form. This recognition from one of the most influential figures in global finance contributed to the growing interest in Bitcoin.

Bullish Momentum Drives New BTC Price Records

The positive momentum behind Bitcoin’s surge was further supported by the nomination of Paul Atkins, a pro-crypto figure, for the role of chair of the Securities and Exchange Commission (SEC). The combination of favorable regulatory outlook and Powell’s comments has sparked a renewed rally, setting new price records for Bitcoin.

As a result, short BTC liquidations reached an eye-popping $134 million over a 24-hour period, according to data from CoinGlass. Traders like Rekt Capital have confirmed the breakout, with Bitcoin doubling down on its massive November monthly candle, a historic record in US dollar terms. Bitcoin’s recent price action reflects the ongoing bullish sentiment in the market, with many analysts predicting more upside potential.

Bitcoin Price Predictions: No Bubble Before $150,000

As Bitcoin continues to climb, it has led to a surge in the trading of US spot Bitcoin exchange-traded funds (ETFs), with net inflows surpassing $500 million for two consecutive days. According to Ki Young Ju, founder and CEO of CryptoQuant, fresh capital is driving Bitcoin’s price upward. Based on Bitcoin’s realized cap, a measure of the market cap determined by the price at which each coin was last moved, Ki’s model suggests that the ceiling price for Bitcoin could rise from $129K to $146K within the next 30 days.

At its current price of $102,000, Bitcoin is far from a “bubble,” Ki noted. To reach a bubble threshold, Bitcoin would need to experience a 43% surge, bringing its price to around $150,000. This prediction indicates that there is still significant room for Bitcoin to grow before it reaches a potential tipping point.

Conclusion: Bitcoin’s Historic Growth and Potential for the Future

Bitcoin’s rise to a $2 trillion market cap is a monumental achievement, further solidifying its place as a dominant force in the financial world. With bullish momentum, favorable market sentiment, and predictions of continued growth, Bitcoin seems poised for even higher milestones in the coming months. As the world’s seventh-largest asset, Bitcoin’s journey is far from over, and it may continue to redefine the landscape of digital assets and traditional investments alike.

Disclaimer: This website’s content is for informational purposes only and does not constitute financial advice, with all cryptocurrency purchases carrying inherent risks.