CandleFocus Bitcoin Hits $108K For The First Time In History
2024-12-17
Author: Content Editor
The price of Bitcoin has reached $108,223, a 2% increase in the past day. The rise in price is attributed to the support for cryptocurrencies from Trump's incoming administration, including the promise to create a strategic Bitcoin reserve. Paul Atkins, a crypto advocate, has been nominated to lead the Securities and Exchange Commission, further boosting confidence in Bitcoin. The Financial Accounting Standards Board now allows companies to hold Bitcoin on their balance sheets without penalty, increasing its legitimacy as a corporate asset. Additionally, MicroStrategy's addition to the Nasdaq 100 on Dec. 23 has added to the optimism. Analysts predict Bitcoin's price to reach between $150,000 and $200,000 by the end of 2025.
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