CandleFocus Bitcoin Price Hits Historic $104,000: Key Factors Fueling The Surge
2024-12-05
Author: Content Editor
Bitcoin has reached a new all-time high of $104,088, surpassing the $100,000 milestone for the first time. Several factors contributed to this surge, including Federal Reserve Chair Jerome Powell comparing Bitcoin to gold, Russian President Vladimir Putin endorsing Bitcoin, and speculation about a forthcoming "Bitcoin Space Race" between global superpowers. The rally was driven by robust spot market activity and institutional participation, indicating sustained demand. While retail traders remain cautious, on-chain analytics suggest that the milestone could soon be achieved as long as key stakeholders continue to accumulate BTC.
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