Bitcoin Surpasses $100,000 Threshold

Bitcoin surpassed the highly anticipated milestone of $100,000, setting a new record. In the early hours of the day, Bitcoin accelerated its upward momentum, quickly exceeding the $100,000 threshold and reaching a record level of $103,896. This development gained traction amid expectations that Donald Trump, the winning candidate of the U.S. presidential election, would adopt a crypto-friendly administration policy. Notably, Trump's consideration of appointing Paul Atkins, a crypto proponent, as the head of the U.S. Securities and Exchange Commission (SEC) has created a positive atmosphere in the markets.

The cryptocurrency market saw an increase of approximately $1.4 trillion following Trump's victory. Experts indicate that particularly the growing interest of institutional investors and the approval of Bitcoin exchange-traded funds (ETFs) in the U.S. have been significant factors during this period. These developments point towards Bitcoin gaining value while also indicating that the market is progressing towards broader acceptance.

Additionally, comments made by U.S. Federal Reserve Chair Jerome Powell regarding Bitcoin have been another catalyst for the market. Powell stated that Bitcoin is not a competitor to the dollar, considering the cryptocurrency more as a digital version of gold. Trump’s SEC move and Powell’s remarks have stood out as factors increasing demand for Bitcoin, propelling the leading cryptocurrency into the $100,000 arena.

Market analysts predict that Bitcoin's value could further increase by the end of the year, creating an attractive opportunity for investors. However, warnings have also been issued for investors to be cautious, as rapid price increases could accelerate profit realizations and lead to quick fluctuations in the market amid high volatility.

After setting a new record price near $104,000, Bitcoin retreated to $101,700. Subsequently, the cryptocurrency rose towards $102,500 as it seeks to find balance.