The price of Bitcoin (BTC) continues to surge, having risen 4% in the last 24 hours and nearing the key threshold of $100,000 U.S.
Bitcoin is currently trading at an all-time high of $97,800 U.S. as a broader rally in cryptocurrencies continues.
Many analysts and investors are eagerly anticipating that Bitcoin will cross the $100,000 U.S. mark within days if the current momentum continues.
Cryptocurrencies have been rallying since Donald Trump won the U.S. presidency on Nov. 5, with Bitcoin’s price now up 120% on the year.
Bitcoin is rallying as investors bet on less regulation and more widespread adoption and use of digital coins and tokens under a second Trump presidency.
Other cryptocurrencies are also rallying, with Ethereum (ETH) and Solana (SOL) also up sharply in recent weeks.
Dogecoin (DOGE) and other meme coins have seen their prices more than double in the past month. The price of Dogecoin has risen 168% since late October.
Some analysts are urging caution amidst the current crypto rally, noting that digital assets have a history of violent boom-and-bust cycles.
Two years ago, Bitcoin was trading below $17,000 U.S. during what was then described as a “crypto winter” by analysts and investors.
