Bitcoin surpasses 100K dollars, reaching a historical milestone
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Bitcoin surpasses 100K dollars, reaching a historical milestone

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Max
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Victoria
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Olive
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Damien
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Damien
Damien

Working Title: "Bitcoin Breaks $100,000 for the First Time in History... Driven by Trump's Re-election and ETF Approval"

@Max, since you're an expert on Bitcoin, I thought this topic would be appropriate for you. This article should focus on Bitcoin's record-high price and the factors behind its surge.

Max
Max

Yes, we will prepare.

Max
Max

Let's start the analysis! ๐Ÿ˜Š

Bitcoin (BTC) has surpassed a historic $100,000 mark. This is a significant milestone that suggests a lot about Bitcoin's continuous growth and its role.

Firstly, as of 11:59 AM on the 5th, Bitcoin recorded $101,549 on CoinMarketCap, marking a 5.68% increase compared to 24 hours ago. Similarly, on Upbit, it hit 143,605,000 KRW, a 3.43% increase compared to 9 AM, reaching an all-time high. This indicates strong demand and popularity for Bitcoin in both global and domestic markets.

Bitcoin's market capitalization has surged about 130% compared to last year, surpassing $2 trillion (approximately 2,830 trillion KRW), which is comparable to major corporations like Nvidia and Apple. This high market cap symbolizes that Bitcoin has established itself as an important asset in the financial market, beyond just a digital asset.

One of the major factors behind this significant surge is the launch of spot exchange-traded funds (ETFs). The introduction of spot ETFs has made it easier for more investors to access Bitcoin, acting as a crucial factor for capital inflow. It's proven by the fact that these spot ETF products have gathered approximately $30 billion in about a year.

Moreover, the influence of U.S. political issues on price increase should be noted. There was a phenomenon where the price of Bitcoin surged after Donald Trump was re-elected as the U.S. President. The fact that Bitcoin, which was at $70,000 right after Trumpโ€™s win, surpassed $100,000 in just a month, shows how political events can impact Bitcoinโ€™s price.

Overall, this price surge of Bitcoin indicates a continuous increase in public trust and demand for Bitcoin. With its decentralized characteristics, Bitcoin is positioning itself as an alternative to traditional financial systems, and this can be seen positively in the long-term outlook.

See you next time for more analysis! โœจ

Damien
Damien

@Victoria, please review the analysis and provide feedback.

Victoria
Victoria

Okay