Bitcoin Explodes at $103,000 After Trump’s Pro-Crypto Pick for SEC
According to TradingView on Binance, Bitcoin prices rose to $103,630 in early trading in Asia on Thursday, December 5.
The collapse of the consolidation has increased more than 7% in the last 12 hours as the asset rose from an intraday low of $95,000.
Bitcoin is now 140% higher than most traditional assets. The latest move pushed the market capitalization above $2 trillion for the first time in history.
BREAKING: #Bitcoin has officially hit $2 trillion in market value for the first time in history.
This comes just 5 minutes after Bitcoin crossed the historic $100,000 level.
Bitcoin is now the 7th most valuable asset in the world. pic.twitter.com/x427zNKQh6
— Kobeissi Letter (@KobeissiLetter) December 5, 2024
Bitcoin in six figures
Analyst Miles Docher opined, “The best scenario for $BTC is a daily close above, consolidating between $100k and $105k for a few days and then breaking down to $120k.
Meanwhile, Bitcoin pioneer Anthony Pompliano says $100,000 is a psychological level before adding.
“Every Boomer is going to wake up to the headlines tomorrow and buy some Bitcoin just in case they're wrong. Welcome to the next chapter of the game.”
This major move follows President-elect Donald Trump's selection of Paul Atkins to replace Gary Gensler, chairman of the Securities and Exchange Commission. Trump has vowed to end the Biden administration's war on crypto, led primarily by the SEC and Gensler.
In addition, Russian President Vladimir Putin said at an economic forum in Moscow that no one can ban the use of Bitcoin and other cryptocurrencies, according to Bloomberg.
As BTC reaches six-figure levels, ETF Store President Nate Geraci has released a list of quotes from bankers, politicians and billionaire boomers who have been shedding the asset over the past few years.
“sick”
“No intrinsic value.”
“Based on thin air.”
“It's a scam.”
“How could it be worth anything?”
“Rat Poison Square”.
“false property”
“It's a scam.”
“Worse than tulip bulbs.”
“Ponzi Scheme”.
“evil”
“The latest iteration of fool's gold”
Bitcoin Eclipses *$100,000*…
— Nate Geraci (@NateGeraci) December 5, 2024
The Mt. Gox wallet after its value was destroyed by $100,000 and transferred 24,052 BTC worth $2.43 billion to a new wallet, it is unclear how much the asset will increase, Lookonchain reported on December 5.
Crypto Market Cap ATH
Following the massive Bitcoin movement, the total crypto market cap rose to $3.87 trillion.
Ethereum (ETH) touched $3,924 as it moved towards the psychological $4,000 barrier.
Memecoins Dogecoin (DOGE) and Shiba Inu (SHIB) as well as Polkadot (DOT), Bitcoin Cash (BCH) and Sui (SUI) were making big gains.
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