It took Bitcoin exactly one month to cross the long-anticipated, historic $100,000 mark. The cryptocurrency surged from $69,374 on Election Day to a peak of $103,713. To highlight just how strong the belief in Bitcoin is, we calculated that over the past month, its rise to new highs was fueled by purchases totaling $669.61 billion. 

Much of the credit for this milestone is attributed to Trump’s election victory and his soft approach to crypto regulation. Rumors that he plans to appoint cryptocurrency advocate Paul Atkins as the new head of the SEC have only added fuel to the fire, further igniting investor enthusiasm.  

Bitcoin "got jealous" of Altcoins  

Altcoins were on fire last week, hitting historic highs for BNB and Tron (TRX), while XRP reached a seven-year peak, and Bitcoin stayed in consolidation around the $95,000 level, causing a dip in BTC dominance.  

Bitcoin's market dominance fell by 11.5%, dropping from a three-and-a-half-year peak of 61.8% on November 21 to a low of 54.7% by December 4, before recovering. However, Bitcoin dominance surged by 4.4% in the last 24 hours, surpassing 57%, as the asset hit a record high of $104,000 on December 5.  

"It’s like BTC got jealous of all the attention altcoins were getting," noted IncomeSharks analyst.

The Bitcoin Fear and Greed Index, which tracks market sentiment, is currently at an "extreme greed" level of 84.  

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Source: Alternative.me

Coinbase CEO Brian Armstrong drew an eye-opening parallel:

"If you had bought $100 worth of Bitcoin when Coinbase was founded in June 2012, it would be worth about $1.5 million now."  

Admit it, your greed level just hit 100, didn’t it?

Experts on Bitcoin's rise  

How long Bitcoin will stay above the $100,000 mark is anyone’s guess. Some experts continue to warn about the investment risks. For instance, Dan Coatsworth, an investment analyst at AJ Bell in London, believes that breaking through the $100,000 level doesn’t mean Bitcoin will go mainstream. It’s just a psychological milestone, ultimately, it’s just a number.  

Many people have gotten rich on the rise of cryptocurrency this year, but this high-risk asset isn’t for everyone. It’s volatile, unpredictable, and driven by speculation, none of which make it an investment you can comfortably sleep on at night.

Others, however, are more optimistic about future profits and global adoption. Richard Teng, CEO of Binance, points out that nearly 16 years after the first block was mined in 2009, Bitcoin has reached a total market capitalization of $2.1 trillion.  

This also firmly places Bitcoin in a very short list of just seven assets or companies that have surpassed a $2 trillion market cap, alongside gold miners and tech giants like NVIDIA, Apple, Microsoft, Alphabet (Google), and Amazon.  

With talk of Bitcoin being held as a strategic reserve in the U.S. and more companies adding Bitcoin to their corporate treasuries, we are on the brink of true mass global adoption.
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