Bitcoin is jumping again, rising above $98,000 for the first time Thursday. The cryptocurrency has been shattering records almost daily since the U.S. presidential election, and has rocketed more than 40% higher in just two weeks. It's now at the doorstep of $100,000.
An employee watches an electronic signboard displaying the prices of Bitcoin and other cryptocurrencies at the lounge of Bithumb cryptocurrency exchange in Seoul, South Korea, Thursday, Nov. 21, 2024. NEW YORK — Bitcoin topped $98,000 for the first time Thursday, extending a streak of record after record highs since the U.S. presidential election. The cryptocurrency has rocketed more than 40% in just two weeks..
Cryptocurrency has been around for a while now. But, chances are, you’ve heard about it more and more over the last few years. How of this will actually pan out — and whether or not Trump will successfully act quickly on these promises — has yet to be seen. Gary Gensler, who as head of the Securities and Exchange Commission under President Joe Biden has led a U.S. government’s crackdown on the crypto industry, penalized a number of crypto companies for violating securities laws. Gensler announced Thursday that he would step down as SEC chair on Jan. 20, Inauguration Day.
At the start of the COVID-19 pandemic, bitcoin stood at just over $5,000. Its price climbed to nearly $69,000 by November 2021, during high demand for technology assets, but later crashed during an aggressive series of Federal Reserve rate hikes. And in late 2022 collapse of FTX significantly undermined confidence in crypto overall, with bitcoin falling below $17,000.
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