CandleFocus Bitcoin makes history: Closes above $100K for the first time in daily and weekly records
2024-12-09
Author: Content Editor
Bitcoin closed above the $100,000 mark for the first time in history on December 8. This record achievement is seen as a new era of confidence among investors, with factors such as regulatory changes and growing institutional trust in the asset class driving the significant increase in Bitcoin's value. The Federal Reserve Chairman comparing Bitcoin to gold and the U.S. Treasury Department recognizing Bitcoin as a reserve currency have also contributed to its popularity. Institutional adoption has played a significant role in the Bitcoin boom, and the selection of a crypto-friendly SEC Chair is expected to result in a more favorable regulatory framework. Rising levels of fiscal instability and the desire for decentralized alternatives have also fueled interest in Bitcoin as a hedge against inflation and monetary uncertainty.
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