As investors gambled that President-elect Donald Trump’s more lenient US regulatory stance toward cryptocurrencies will usher in a boom era for the asset class, Bitcoin’s advance toward $100,000 gained momentum on Thursday.
For the first time in Asia, bitcoin values rose beyond $96,000, peaking just above $96,898.
In the two weeks after Trump was elected as the next US president and other pro-crypto MPs were elected to Congress, the price of the cryptocurrency has more than quadrupled this year and is up almost 40%.
According to Tony Sycamore, an analyst at IG Markets, “it is being drawn toward the $100k level, even though it is now firmly into overbought territory.”
