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Bitcoin Approaching $100K on Christmas Eve
The cryptocurrency market has been witnessing a tumultuous year, marked by significant price swings and unprecedented volatility. However, it seems like the market is finally showing some signs of stabilizing, with the flagship cryptocurrency Bitcoin (BTC) experiencing an impressive surge over the past four hours.
According to recent data, the value of Bitcoin has risen approximately 2% since midnight. This upward momentum has propelled the asset’s price closer to the $100,000 mark. The S&P 500 index and Nasdaq 100 have also seen a notable increase, closing up by 1% and 1.3%, respectively.
The current uptrend is welcome news for Bitcoin bulls, as they had been struggling to regain ground following the Federal Reserve’s hawkish rhetoric. Despite this recent surge, it’s essential to note that Bitcoin’s price remains approximately 9% below its record high of $108,135 on December 17th.
It’s also worth mentioning that Bitcoin has demonstrated significant growth throughout 2024, rising by nearly 140%. Some prominent voices in the space, such as SkyBridge Capital founder Anthony Scramucci, have even predicted that the flagship cryptocurrency could potentially double in price by 2025.
This article is written by Alex Dovbnya (aka AlexMorris), a renowned cryptocurrency expert, trader, and journalist with extensive experience covering various aspects of the industry.
Source: u.today
