The volatility in cryptocurrency markets continues at full speed. Especially with the ongoing U.S. election process, which has created a foundation for many assets to gain value, we have witnessed Bitcoin breaking records one after another. As of yesterday, Bitcoin surpassed $100,000 and reached an all-time high once again. However, it seems that the situation has shifted slightly since then.
Note: This news and its details are not investment advice, but are provided to inform about the current state of cryptocurrency.
Bitcoin Drops Below $100K
Bitcoin, which has attempted to break the $100,000 mark many times but failed to reach it, saw its price soar to $103,000 on December 5, hitting its highest level ever. The cryptocurrency fluctuated between $101,000 and $103,000 throughout the day but began to decline in the evening. According to CoinMarketCap data, by 1:35 AM on December 6, it had dropped to $95,600.
Bitcoin has since managed to recover quickly, and as of the time of writing this article, its value stands at $98,327. Whether it will surpass $100,000 again in the future remains to be seen.
One of the key factors contributing to the current volatility in the cryptocurrency market is the U.S. Presidential Elections, as mentioned above. Donald Trump, who served as President of the U.S. from 2017 to 2021, has returned to the presidency after a four-year hiatus. He defeated his rival Kamala Harris and was elected the 47th President of the United States. Experts believe Trump’s influence on the markets will continue for some time.
What do you think about this topic? Do you think Bitcoin will surpass $100,000 again, or is this just a temporary reaction? Feel free to share your thoughts in the comments.
