Bitcoin is now above $100,000, and with that, a big milestone has been achieved. The leading cryptocurrency reached $101,250 on the night of Wednesday, December 4, and then hit an all-time high of $103,679 on December 5.
Bitcoin crossing the $100,000 mark is much more than just a numerical milestone — it’s a watershed moment for the cryptocurrency that started trading at just $1 in 2011. Despite years of criticism from traditional financial institutions and predictions of collapse from prominent economists, Bitcoin has continued to gain mainstream acceptance. And now, with this new lofty valuation and the incoming administration’s pro-crypto stance, all eyes are on where Bitcoin’s journey will go from here.
Cryptocurrency advocates are already heralding this moment as transformative. Petr Kozyakov, co-founder and CEO of Mercuryo, a London-based leading payment infrastructure platform in the digital token space, told Quartz via email that Bitcoin’s milestone comes as industry figures anticipate widespread adoption
“Cryptocurrency is destined to reach mass adoption in just the same way as the World Wide Web has today,” he said.
Trump served as a catalyst in Bitcoin’s journey
Since Trump’s election victory in November, Bitcoin’s value has increased 54%, with many analysts citing his pro-cryptocurrency platform as a key market driver. The President-elect, who frequently promoted cryptocurrency adoption during his campaign, has taken credit for the surge.
Cryptocurrency analysts say his early transition moves were decisive. Arthur Azizov, CEO of B2BINPAY, an all-in-one crypto ecosystem for businesses, told Quartz via email that Trump’s decision to appoint pro-crypto advocate Paul Atkins as SEC Chairman paved the way for Bitcoin to finally surpass the psychological $100,000 barrier.
Bitcoin ETFs played a major role in the rise of Bitcoin
The Bitcoin rally had momentum even before Trump’s victory. In January 2024, the SEC’s approval of spot Bitcoin ETFs gave greater legitimacy to the cryptocurrency.
Matt Mena, a crypto research strategist at 21Shares—the world’s largest global issuer of crypto exchange-traded products—said in an email the Bitcoin ETFs have seen unprecedented investor interest since their January launch.
The $100K milestone not only affirms the community’s long-term confidence, according to Mena, but also sends a powerful message to institutions, corporations, sovereign funds, skeptics, and hesitant investors.
“Bitcoin has entered a new phase of adoption and recognition as a store of value and a transformative asset class,” he said.
Where will Bitcoin’s price go from here?
While some celebrate Bitcoin reaching six figures, analysts remain divided on its near-term trajectory. Azizov cautioned that price volatility remains a factor in cryptocurrency markets, even at these elevated levels.
“By year-end, Bitcoin’s price will consolidate around $100,000 before retracing to five-digit levels, potentially settling near $85,000 in the following months,” he added.
While some analysts predict a price pullback, 21Shares’ Matt Mena argues this milestone marks just the start of a broader transformation in cryptocurrency markets. The market, he said, is already eyeing $110,000 as the next target.
“Bitcoin will maintain its momentum leading into Q1 of 2025, well above the $100K mark,” Mena said. While this optimism fuels expectations, it also underscores the growing confidence in Bitcoin’s long-term potential.”
