Bitcoin reaches all-time high of over USD109K
Date
1/21/2025 1:31:17 AM
(MENAFN) Bitcoin reached an all-time high on Monday, surpassing the USD109,000 mark. In the past 24 hours, its price fluctuated between a low of USD99,400 and a high of USD109,110. This impressive surge comes after the cryptocurrency was valued around USD70,000 just before the US presidential elections in November 2024. Over the course of the past couple of months, Bitcoin has experienced a substantial 55 percent increase in value.
The positive momentum in the market following the victory of Donald Trump in the November 2024 elections has been a significant factor in Bitcoin's price surge. Trump's win was accompanied by growing optimism among cryptocurrency enthusiasts, as he made a strong commitment to making the United States the “crypto capital” of the world. This pledge sparked investor confidence, leading to a surge in Bitcoin’s value.
Bitcoin's market capitalization recently stood at USD2.14 trillion, highlighting its dominant position in the global cryptocurrency landscape. This substantial figure underscores the growing importance of Bitcoin in the broader financial world as more people and institutions continue to recognize its potential as a store of value and a financial asset.
The cryptocurrency’s 24-hour trading volume has also been impressive, amounting to USD111.5 billion according to Coinmarketcap data.
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