BTC/USD: Bitcoin Shatters $100,000 to Set New Record amid Fierce Bull Run

OG token smashed the six-digit figure on Thursday, giving crypto traders 100,000 reasons to celebrate. For the crypto industry, it’s a dream come true.

• Bitcoin prices BTCUSD rose to a fresh record surpassing $100,000 for the first time in history with a session high of $103,000. It’s a milestone that defies gravity and makes even the most vicious critic think twice before slamming the orange coin again. Bitcoin advanced 5% on Thursday to top the six-digit figure, ballooning its valuation to more than $2 trillion. What’s behind the record-breaking rally that has been making headlines for weeks?
• All can be summed up with one word — Trump. After winning the presidential election, Donald Trump unleashed a monster wave of buying as traders and investors flocked to the novel asset class on prospects for huge growth. The industry is positioned to gain a lot from a Trump presidency and he’s made it clear as well. The President-elect has said that he will support the growth of the crypto industry and even create a Bitcoin strategic reserve.
• Against this backdrop, a more recent event injected fresh buying momentum — Gary Gensler announced he’ll resign from his position as chief of the Securities and Exchange Commission. Effective January 20 (Inauguration Day, coincidence?), Gensler will no longer be calling the shots at the SEC. The agency decides the fate of exchange-traded funds, which means that lots of new crypto ETF applications will pile on SEC desks. In his place, Trump is looking to appoint Paul Atkins, crypto bro, to run the Securities and Exchange Commission. Now that Bitcoin has conquered $100,000, can it do $200,000 next?