Bitcoin hits historic $100,000 price level as 1,000 sats now equal $1

For the first time, Bitcoin has surpassed the $100,000 mark, pushing its market capitalization to $2 trillion. This milestone follows a series of new all-time highs over the past few weeks, fueled by market momentum after the U.S. presidential election.

The election of Donald Trump, who has promised pro-cryptocurrency policies, contributed to Bitcoin’s surge. Since his victory in early November, Bitcoin’s price has climbed over 30%, reaching $93,400 on Nov. 13.

The digital asset continued to set records, hitting $93,900 on Nov. 19 and $94,300 on Nov. 20. On Nov. 21, Bitcoin soared to $98,200 before retracing to around $97,000, coming within 3% of the $100,000 milestone. The following day, it was denied again at $99,600, which led to a decline to $90,700 by Nov. 26.

By Nov. 29, Bitcoin managed to reclaim $98,000 again but failed to sustain the momentum amid a surge in leverage to all-time highs. The next few days saw the flagship crypto trading in a tight sideways range between $93,000 and $97,250 before finally reclaiming $99,000 late on Dec. 3.

Bitcoin took three hours from there to decisively break the six-figure level as Asia began Dec. 4 trading. BTC was trading at $101,450 as of press time, up 6.64% over the past 24 hours.

Bitcoin’s Price History

Bitcoin’s journey to $100,000 marks a significant milestone since its inception in 2009, when it held little to no monetary value. The first recorded price of Bitcoin was in 2010 when it was worth less than $0.10. By February 2011, Bitcoin had reached $1, and later in June 2011, it briefly exceeded $30. However, this early bubble burst, and Bitcoin’s price fell back to around $2 by the end of 2011.

2012-2013: Halving and Major Rally

In November 2012, Bitcoin experienced its first “halving” event, where the reward for mining new blocks was cut in half. By the end of 2013, Bitcoin had reached $1,000, marking its first major rally. The years following saw Bitcoin go through significant volatility, including a decline to around $200 in 2015 before slowly stabilizing and growing stronger by 2016.

2017: The Turning Point

2017 marked a turning point for Bitcoin, as the price started at around $1,000 and skyrocketed to nearly $20,000 by December. This surge brought Bitcoin into the mainstream spotlight, but it was followed by a prolonged bear market in 2018 known as the “crypto winter,” where the price fell to around $3,700 by the end of the year.

2019-2020: Recovery and Pandemic Impact

The price began to recover in 2019, and by 2020, despite the COVID-19 pandemic causing a sharp drop in March, Bitcoin ended the year at nearly $29,000. The rally continued into 2021, with Bitcoin reaching new all-time highs of $64,895 in April and $69,000 in November. The collapse of major crypto firms in 2022 led to a significant downturn, but Bitcoin began to recover again in 2023, surpassing $40,000 by the end of the year.

2024: Breaking New Records

The breach of the $100,000 mark in 2024 signifies a pivotal moment for the crypto market, reflecting increased institutional adoption, investor confidence, and strategic Bitcoin reserve legislation. Bitcoin’s ascent past $100,000 solidifies its position in global finance, underscoring its growing acceptance among investors and institutions alike.

The post Bitcoin hits historic $100,000 price level as 1,000 sats now equal $1 appeared first on CryptoSlate.