Bitcoin topped $102,000 for the first time
By ForGeeks The value of bitcoin has surpassed the $102,000 mark for the first time in history, hitting a new all-time high. Bitcoin peaked at $103,656, according to data from the Binance exchange.
Bitcoin’s price at the peak was $103,656.
Experts attribute this rise to recent changes in U.S. monetary policy, including interest rate cuts by the Federal Reserve, which has increased investor interest in alternative assets. Additionally, Donald Trump’s victory in the U.S. presidential election has boosted confidence in the cryptocurrency market, given his promises to support and grow the sector.
Analysts, however, warned of a possible correction after such a rapid rise and advised investors to be cautious.
Analysts warned of a possible correction after such a rapid rise and advised investors to be cautious.
Bitcoin’s exponential growth has also been driven by strong interest from institutional investors. Large funds and companies such as BlackRock and Fidelity have recently announced plans to increase cryptocurrency assets in their portfolios, which has created additional excitement in the market.
The interest in cryptocurrency is also being seen globally, with bitcoin growing in popularity in Asia and Europe as a hedge against inflation, and in Latin America it is increasingly being used as an alternative to national currencies amid economic instability.
At the same time, bitcoin is becoming more popular in Asia and Europe as a hedge against inflation, and in Latin America it is increasingly being used as an alternative to national currencies amid economic instability.
