“A moment in history”: Bitcoin breaches $100,000

Bitcoin has hit a new historical high of $100,000. According to Coinmarketcap data from November 5, within just 24 hours, the flagship crypto coin grew by 6% and reached $102,000.

BTC began its upward trend before Donald Trump was elected the new U.S. president. At that time, the first cryptocurrency was trading at around $68,000.

Analysts link continuous Bitcoin growth with the President-elect’s statements concerning the crypto market, including his promise to turn the USA into the “crypto capital of the planet” and create a strategic BTC reserve.

“If crypto is going to define the future, I want it to be mined, minted, and made in the USA,” Trump claimed.

A November poll by Reuters revealed that experts credited the incoming U.S. President with driving the leading crypto coin’s growth. ATFX Global analyst Nick Twidale highlighted Trump’s support of the crypto industry.

According to Astronaut Capital’s crypto asset manager Matthew Dibb, the incoming President’s policy increases the chances that other countries will buy BTC “in a bid to front run the U.S.”

Another driving factor for the Bitcoin market is the appointment of former SEC commissioner Paul Atkins, a widely-known advocate for cryptocurrency, as the agency’s new Chairman.

As Donald Trump stated, with Atkins at the helm, the agency will advocate for “robust, innovative capital markets that are responsive to the needs of Investors, and that provide capital to make our economy the best in the world.”