MOSCOW: The Bitcoin reached a historic milestone early on Thursday, surpassing the psychologically important threshold of $100,000, accor...
MOSCOW: The Bitcoin reached a historic milestone early on Thursday, surpassing the psychologically important threshold of $100,000, according to Binance platform’s trading data.
The threshold was crossed at 5:33 a.m. Moscow time (2:33 a.m. GMT) as the crypto currency gained 4.49% during trading.
As of 5:42 a.m. Moscow time (2:42 a.m. GMT) the Bitcoin accelerated its growth, trading at $101,000 (+5.63%).
Experts told TASS earlier that Bitcoin could easily pass the $100,000 mark in the coming days and continue rising, up to the $300,000 level.
According to analysts, there are several reasons behind the increase in cryptocurrency prices. The reasons particularly include US President-elect Donald Trump’s ambitious plans to turn the United States into a global cryptocurrency hub and review the US Securities and Exchange Commission’s regulatory policies.
Another reason why cryptocurrencies attract investors is because Bitcoin and Stablecoin are seen as potential defensive assets during geopolitical crises.
Bitcoin is a decentralized system of a crypto currency of the same name based on the blockchain technology, which can be mined by any user - system participants. The concept was published in November 2008 by its author (possibly a group of authors) under the pseudonym Satoshi Nakamoto.
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