Bitcoin surged to an all-time high on Friday morning (PKT), surpassing the $99,000 level for the first time in its history. The cryptocurrency reached an unprecedented $99,261 before pulling back slightly to $99,500, holding steady for several hours.
By 9:25 AM, Bitcoin had settled at around $99,000. However, at 9:35 AM, the digital asset saw a 2.54% increase, trading near $98,990.
As of the latest data, Bitcoin’s full diluted market capitalization stands at an impressive $2.08 trillion, with 19.78 million coins in circulation. Bitcoin has seen a remarkable upward trajectory this year, having doubled in value and increased by roughly 40% in just the two weeks following the US elections earlier this month.
This impressive rally marks a sharp contrast to 2022 when Bitcoin fell below $16,000. In less than two years, it has now gained over $80,000 in value.
Analysts point to the growing global adoption of cryptocurrencies, with investors placing big bets on their future. The support from institutional investors and favorable regulatory developments worldwide have been key drivers behind Bitcoin’s meteoric rise.
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