A creative visualization of Bitcoin generated by ChatGPT featuring multiple golden coins with the Bitcoin logo (a stylized 'B' with two vertical lines) scattered and stack
The price of Bitcoin, the world’s most valuable cryptocurrency by market capitalisation, crossed $108,000 on Monday.
The cryptocurrency’s new all-time high price comes few hours before president-elect Donald Trump’s inauguration.
Trump will be sworn in later in the day and speculations have been raised that the president-elect will address Bitcoin’s strategic reserve during his inauguration speech.
According to CoinMarketCap, a price-tracking website for crypto assets, bitcoin reached an all-time high of $108,899 at 8:15am (GMT+1) on Monday, after dropping to as low as at $99,664 in the early hours of today.
Advertisement
But the digital currency has settled at $108,056.91 at 9:42am (GMT+1).
TheCable observed that bitcoin gained 3.3 percent and $111 billion volume of trade over the past 24 hours.
The cryptocurrency market capitalisation also increased to $3.95 trillion – gaining $484 billion within the same period.
Advertisement
A breakdown of the market cap showed that Bitcoin has 55 percent, while Ethereum, trading at $3,396 (the second largest cryptocurrency), has 10.6 percent — leaving other coins with the remaining 33 percent.
The rise in Bitcoin’s price started on November 5 when Donald Trump, a Republican Party candidate, won the US presidential election. The digital asset reached $75,000 on that day.
One month later, the digital currency reached a $100,000 – the first time in its 15 years history.
Bitcoin had experienced fluctuations after crossing the threshold.
Advertisement
Meanwhile, Trump had launched his own cryptocurrency or memecoin, called $TRUMP.
The move had sparked a rally that sent its market capitalisation soaring to $14 billion.
Add a comment
