Bitcoin Hits $100,000 for the First Time in History

12/05/2024 10:26
Bitcoin Hits $100,000 for the First Time in History

Bitcoin is now trading above the $100,000 level for the first time in history

Bitcoin is now trading above the $100,000 level for the first time in history

Bitcoin Hits $100,000 for the First Time in History

Cover image via U.Today

Bitcoin (BTC), the largest cryptocurrency by market cap, has surpassed the $100,000 level for the first time in history, according to CoinGecko data. It is currently changing hands at $102,527. 

Bitcoin's previous price milestones 

The original cryptocurrency was virtually worthless following its launch, with the first known real-world Bitcoin purchase only taking place in May 2010. 

The leading cryptocurrency started attracting some mainstream attention in 2011. On Feb.2, 2011, it hit the $1 price level for the first time. During the same year, it experienced a speculative frenzy following the publication of a Gawker article about the infamous Silk Road dark web marketplace. After the price crash, Bitcoin already attracted some naysayers, with The Economist writing it off as a bubble all the way in October 2011. 

Bitcoin experienced its mainstream breakthrough back in 2013, with CNBC reporting about the cryptocurrency breaking above the $100 barrier for the first time on March 31, 2013. 

Within the same year, Bitcoin surged $1,000 on Nov. 27, 2013. Back then, it took the cryptocurrency only seven days to double its price. 

After enduring a grueling bear market, Bitcoin came back with a bang in 2017, hitting $10,000 for the first time on Nov. 29, 2017. 

Now, Nov. 22 has become yet another historic day for the largest cryptocurrency. 

Sky-high price predictions 

As reported by U.Today, Galaxy Digital CEO Mike Novogratz does not expect Bitcoin to stop at the $100,000 mark, predicting "much higher" prices due to multiple bullish catalysts. 

Fundstrat's Tom Lee sees Bitcoin reaching $150,000 as early as this year. 

Earlier this month, former BitMEX CEO Arthur Hayes predicted that Bitcoin might surge to as high as $1 million due to massive stimulus spending in the U.S. 

About the author

article image

Alex Dovbnya

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at [email protected].

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