Bitcoin continues its rise, climbing on Thursday to a level nearing $100,000, thanks to optimism in the trading market, reports Investing and Cointelegraph. This cryptocurrency aims to reach the significant psychological barrier of $100,000.
This is reported by Finway
Recall that last Friday, Bitcoin broke out of its consolidation range, trading around $95,000, and reached $98,000 — the highest level since mid-February. Recent data indicates that on Thursday, the price of Bitcoin rose again, approaching this key mark.
Reasons for Bitcoin’s Price Increase
Among the main factors contributing to the rise in Bitcoin’s value, experts highlight “risk changes” in the market related to hopes for de-escalation of the trade policies of U.S. President Donald Trump. It is known that he recently announced an important trade agreement that, according to analysts, could positively impact the cryptocurrency market.
Challenges on the Path to a Record
However, the $100,000 threshold will be a significant obstacle, both due to its rounded value and considering previous price fluctuations. eToro analyst Simon Peters noted: “In November 2024, when the price first reached this level, it quickly corrected to $90,000 within a few days.” This suggests that the market may be sensitive to various external factors.
“In November 2024, when the price first reached this level, it quickly corrected to $90,000 within a few days,” he stated in a comment to Cointelegraph.