Market Analysis by Investing.com (David Wagner) covering: MicroStrategy Incorporated, Bitcoin US Dollar, Bitcoin, Coinbase Global Inc. Read Investing.com (David Wagner)'s Market Analysis on Investing.com
Bitcoin finally breaks the $100,000 barrier, marking new all-time highs.Can the crypto continue to hold ground above $100,000?made history on Wednesday night, breaking past the elusive $100,000 mark for the first time. This milestone caps off an extraordinary year for the cryptocurrency, which has soared nearly 150% since January. Bitcoin ’s meteoric rise began earlier this year with the U.S. approval of spot Bitcoin ETFs.
During his campaign, Trump championed cryptocurrency adoption, promising to position himself as the"president of crypto-currencies." Markets responded accordingly, driving Bitcoin higher in anticipation of favorable policy developments. Renowned for having a favorable view of crypto-currencies , Atkins is a former SEC commissioner, so knows the inner workings of the agency, and is likely to quickly implement measures favorable to the growth of the digital asset industry.
Undoubtedly, the crossing of this symbolic milestone will lead many long-term buyers to take at least partial profits. However, BTC's move to a 6-digit quotation could also significantly boost its public profile, and attract new buyers. From a charting point of view, Bitcoin is now in price discovery territory, and we'll have to rely on psychological thresholds to define the next targets.
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