\u201cThe last 10 years have been pure speculation. Now is time to go from speculation to real-world utility.\u201d<\/p><\/blockquote>\n
This latest bull run stands out due to some key differences.<\/p>\n
Bitcoin today is not just another speculative asset \u2014 it\u2019s widely viewed as a safe haven, a hedge against inflation, and a recognized asset class with a growing institutional base.<\/p>\n Spot-based exchange-traded funds (ETFs) in major economies such as the United States and Hong Kong have made it more accessible than ever, and the recent election of crypto-friendly presidential candidate Donald Trump in the US has rolled out the red carpet for the cryptocurrency industry.<\/p>\n Related: <\/strong><\/em>Crypto adoption on track to hit 8% by 2025: Report<\/strong><\/em><\/p>\n Trump\u2019s campaign included promises to replace Securities and Exchange Commission Chair Gary Gensler, a figure seen as an antagonist in the crypto space due to his strict enforcement approach.<\/p>\n Investors are hopeful this shift could reduce regulatory roadblocks, fostering a friendlier environment for crypto assets. Gensler\u2019s tenure, marked by a \u201cregulation by enforcement\u201d approach, has been widely criticized by the industry for lack of legal clarity.<\/p>\n Bitcoin\u2019s journey to $100,000 has been anything but linear. It\u2019s been a path marked by wild price swings, market crashes and, at times, existential doubt.<\/p>\n Among its most notable near-death experiences was after Bitcoin first hit $1,000 in 2013 before tumbling to $200 in 2014. The collapse of Mt. Gox, the world\u2019s largest Bitcoin exchange at the time, loomed large over this period, and its creditor payouts are still news today, a decade later.<\/p>\n In December 2017, Bitcoin reached new heights of nearly $20,000, buoyed by the initial coin offering (ICO) boom. However, regulatory crackdowns soon followed, with the US treating ICOs as unregistered securities offerings and China outright banning them. By December 2018, Bitcoin was trading at $3,200.<\/p>\n Related: <\/strong><\/em>New study says 80% of ICOs conducted in 2017 were scams<\/strong><\/em>\u00a0<\/strong><\/em><\/p>\n Bitcoin\u2019s next major resurgence came in 2021, reaching $63,000 as institutions and high-profile firms such as Elon Musk\u2019s Tesla added fuel to the rally.<\/p>\n But regulatory pressure once again dampened enthusiasm: China imposed a crackdown on Bitcoin mining, leading to a steep drop to $29,000. Following a new high of $69,000 in November 2022, Bitcoin tumbled to a low of $15,000 amid broader crypto industry turmoil from FTX\u2019s collapse, Three Arrows Capital\u2019s implosion, and the Terra-Luna stablecoin crisis.<\/p>\n Now, in 2024, Bitcoin has surged back. The SEC\u2019s approval of spot Bitcoin ETFs in January opened the doors to broader participation, and Trump\u2019s election in November has supercharged the rally.<\/p>\n \u201cWhat\u2019s propelling us now are factors like ETF accessibility, corporate buy-ins and growing allocations from institutions across the globe,\u201d Hong Kong-based market analyst Justin d\u2019Anethan told Cointelegraph. \u201cThe shift away from the dollar in BRICS economies also adds a layer of intrigue, positioning Bitcoin as a potential hedge in a world reassessing the role of traditional reserve currencies.\u201d<\/p>\n For Bitcoin bulls, $100,000 is more than just a number. It\u2019s a psychological checkpoint that validates years of \u201claser eye\u201d fervor \u2014 a social media trend where Bitcoin supporters donned laser-eyed profile pictures to signal their faith in this milestone.<\/p>\n But as d\u2019Anethan explained, $100,000 isn\u2019t the end goal.<\/p>\n \u201dOver the past year, the rise has been largely driven by sophisticated players: we\u2019ve seen corporate treasuries (mainly MicroStrategy), ETFs pop up, and even pension funds starting to allocate to BTC, all with limited fanfare,\u201d he said.<\/p>\n \u201cRetail investors have yet to pile in, and when that euphoria hits, it won\u2019t stop at $100,000.\u201d<\/p><\/blockquote>\n Trump\u2019s campaign also floated the idea of a strategic Bitcoin reserve, which has stirred mixed reactions.<\/p>\n Some view it as a move toward centralization, while others, like Bitcoin marketplace Magisat founder Quary, see it as neutral to Bitcoin\u2019s decentralized ethos.<\/p>\n \u201cWho holds Bitcoin doesn\u2019t really affect the network in any way,\u201d Quary told Cointelegraph.<\/p>\n \u201cHopefully, both US and BRICS (Brazil, Russia, India and China) have similar interest in Bitcoin and both own big stakes in Bitcoin. That\u2019s the best case scenario in my opinion \u2014 an unbiased decentralized network where all powers can partake.\u201d<\/p><\/blockquote>\n Hitting $100,000 is a symbolic achievement, but for many, it signals the beginning of Bitcoin\u2019s larger story.<\/p>\n In the near short term, with the US Federal Reserve\u2019s anticipated continued pivot toward rate cuts, Bitcoin could find itself in a favorable macro environment for risk assets.<\/p>\n \u201cAs long as we don\u2019t face a major liquidation from 2022\u2019s bankruptcies or an unforeseen black swan, the path of least resistance seems up,\u201d d\u2019Anethan said.<\/p>\n However, as history shows, Bitcoin\u2019s trajectory is rarely a smooth upward line. Corrections are likely, even amid positive momentum.<\/p>\n Magazine: <\/strong><\/em>AI may already use more power than Bitcoin \u2014 and it threatens Bitcoin mining<\/strong><\/em><\/p>\n In a world of shifting economic powers and evolving monetary policies, Bitcoin has transformed from a niche asset into a viable financial alternative.<\/p>\n Whether it\u2019s a hedge against inflation, a safe haven or a symbol of financial sovereignty, Bitcoin\u2019s climb to $100,000 is a clear signal: The era of cryptocurrency is here to stay, with all its volatility, complexity and transformative potential.<\/p>\n Check other news for today<\/span> and Please stand by..<\/p>\n *********************************<\/p>\n If one of the paying programs on our Monitor appeals to you, please support EmilyNews<\/em> by registering for it on our website. Thanks very very much!<\/p>\n EN web Support Chat<\/strong> | Hyips and Crypto questions \u2013 HyipChatEN<\/a><\/strong><\/p>\n Telegram Chat for Crypto and Hyip reports: @HyipChatEN<\/a><\/strong><\/p>\n *********************************<\/p>\n Be the first to get most important HYIP news everyday! If you like this article and want to support EN \u2013 please share it by using at least few of social media buttons below. Thanks and See you tomorrow!<\/p>\nThe journey to $100,000 started with a single crash<\/strong><\/h2>\n
What does $100,000 mean for Bitcoin?\u00a0<\/strong><\/h2>\n
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