Today was a historic day in the cryptocurrency market. The world’s largest and popular cryptocurrency Bitcoin crossed the $1 lakh mark for the first time. In early trading, the price of Bitcoin reached $ 1,06,000, which is equivalent to approximately Rs 90 lakh in Indian rupees. With this unprecedented rise, the market cap of Bitcoin reached $2.1 trillion. In terms of market cap, Bitcoin is only 10% behind Google’s parent company Alphabet, whose current market cap is $2.332 trillion. p>
The main reason for this rise in the price of Bitcoin is believed to be a statement by Donald Trump, who is going to become the President of America. In fact, he has indicated that a plan to create a Bitcoin reserve like the oil reserve in America can be considered. Trump’s support for cryptocurrencies has taken Bitcoin and other digital currencies to new heights. During the election campaign he described America as the world "crypto capital" Had resolved to make. Bitcoin has seen a rise of about 50% since the results of the presidential election on November 5.
Other cryptocurrencies also rose
Bitcoin Along with this, the prices of other cryptocurrencies have also increased. The price of Ethereum increased by about 3% to $4,014. The total market cap of the cryptocurrency market is now $3.8 trillion. Experts say that if this trend continues, Bitcoin may touch the $200,000 mark by 2025.
What are the future prospects
Bitcoin This historic gain can prove to be a milestone for the cryptocurrency market. Experts believe that due to the increasing acceptance of digital currencies around the world and government support, this market will become stronger in the future. Bitcoin crossed the $1 lakh mark for the first time on December 5 and it is expected to increase further by the new year. According to IG analyst Tony Sycamore, "The way the market is running, Bitcoin can reach $ 110,000.’
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