Bitcoin hits $106000

Yes, you read that right as Bitcoin hits $106000 breaking all barriers and attracting more global attention. Cryptocurrency’s price has risen by more than 50% since Donald Trump’s victory in the 5 November election.

The world’s largest cryptocurrency briefly passed $106,000 (£83,890), before falling back to around $105,000 in Asia trade on Monday.

After floating near the $100,000 mark for a few days, the OG token jumped to a new all-time high of $106,000 a pop, lifting its market cap to nearly $2.1 trillion.

The bullish momentum comes as traders get ready for the Federal Reserve’s final meeting of 2024.

Chat Gpt has been predicting good things for crypto across the globe.

Bitcoin hits $106000 with Donald Trump incoming

On Thursday, the US president-elect reiterated that he is considering creating a national stockpile of digital currency, similar to the country’s strategic oil reserve.

“Many investors believe $120,000 is achievable by the end of the year and then in 2025 there’s talk of greater than $150,000 by mid-year”.

Earlier this month, Trump named Silicon Valley entrepreneur David Sacks as his artificial intelligence (AI) and cryptocurrency tsar.

Mr Sacks is a former PayPal executive and a close friend of Trump adviser and mega-donor Elon Musk.

Trump has also said he would nominate pro-cryptocurrency Washington attorney Paul Atkins as the new head of the Wall Street regulator, the Securities and Exchange Commission (SEC).