2024

Bitcoin

Shiba Inu

Bitcoin prices surged to a record high of $103,630 during early trading in Asia on Thursday, Dec. 5, according to Tradingview on Binance.
The breakout of <a href="https://cryptopotato.com/long-term-bitcoin-holders-pumping-sell-side-brakes-as-consolidation-continues-analyst/" data-wpel-link="internal" rel="noopener noreferrer nofollow">consolidation</a> added more than 7% over the past 12 hours as the asset climbed from an intraday low of around $95,000.
Bitcoin has now made a whopping 140% year to date, outperforming most traditional assets. The latest move has also pushed its market capitalization over $2 trillion for the first time in history.
<blockquote class="twitter-tweet">
 BREAKING: <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">#Bitcoin</a> officially hits $2 TRILLION in market cap for the first time in history.
 This comes just 5 minutes after Bitcoin crossed the historic $100,000 level.
 Bitcoin is now the 7th most valuable asset in the world. <a href="https://t.co/x427zNKQh6" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/x427zNKQh6</a>
 — The Kobeissi Letter (@KobeissiLetter) <a href="https://twitter.com/KobeissiLetter/status/1864500989362905213?ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">December 5, 2024</a>
</blockquote>
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<h2 id="bitcoin-at-six-figures">Bitcoin at Six Figures</h2>
Analyst Miles Deutscher <a href="https://x.com/milesdeutscher/status/1864501979835429098" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">commented</a>, “The ideal scenario for $BTC would be closing above on the daily, consolidating for a few days between $100k and $105k, then smashing to $120k.”
Meanwhile, Bitcoin pioneer Anthony Pompliano <a href="https://x.com/APompliano/status/1864501782061122022" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">said</a> $100,000 is a psychological milestone before adding:
<blockquote>
 “Every boomer is waking up to headlines tomorrow and then going to buy some Bitcoin just in case they were wrong. Welcome to the next phase of the game.”
</blockquote>
The big move followed the news that President-elect Donald Trump selected Paul Atkins to replace outgoing Securities and Exchange Commission Chair Gary Gensler.&nbsp;Trump has vowed to wind down the Biden administration’s war on crypto, which was primarily led by the SEC and Gensler.
Additionally, <a href="https://cryptopotato.com/russian-court-sentences-hydra-dark-web-kingpin-to-life-in-prison/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Russian</a> President Vladimir Putin said at an economic forum in Moscow that nobody can prohibit the use of Bitcoin and other cryptocurrencies, reported Bloomberg.
As BTC hit the six-figure milestone, ETF Store president Nate Geraci posted a list of quotes from bankers, politicians, and billionaire boomers deriding the asset over the past few years.
<blockquote class="twitter-tweet">
 “Vaporware”
 “There’s no intrinsic value”
 “Based on thin air”
 “It’s a scam”
 “How can it be worth anything”
 “Rat poison squared”
 “Pseudo asset”
 “It’s a fraud”
 “Worse than tulip bulbs”
 “Ponzi scheme”
 “Evil”
 “Latest iteration of fool’s gold”
 Bitcoin eclipses *$100,000*…
 — Nate Geraci (@NateGeraci) <a href="https://twitter.com/NateGeraci/status/1864499471595229368?ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">December 5, 2024</a>
</blockquote>
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It is unclear how high the asset will go since a Mt. Gox wallet transferred 24,052 BTC worth around $2.43 billion to a new wallet after the price broke $100,000, <a href="https://x.com/lookonchain/status/1864506564218147321" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">reported</a> Lookonchain on Dec. 5.
<h2 id="crypto-market-cap-ath">Crypto Market Cap ATH</h2>
The total crypto market cap surged to a record high of $3.87 trillion following the big Bitcoin move, which pulled&nbsp;<a href="https://cryptopotato.com/new-aths-for-bnb-and-trx-as-btc-returns-to-97k-market-watch/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">everything else</a> up with it.
Ethereum (ETH) has broken out also, tapping $3,924 as it pushes towards the psychological $4,000 barrier.
Memecoins Dogecoin (DOGE) and Shiba Inu (SHIB) were also making larger gains, as were Polkadot (DOT), Bitcoin Cash (BCH), and Sui (SUI).
The post <a href="https://cryptopotato.com/bitcoin-blasts-through-103000-after-trumps-pro-crypto-pick-for-sec/" rel="noopener noreferrer nofollow">Bitcoin Blasts Through $103,000 After Trump’s Pro-Crypto Pick for SEC</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.

Bitcoin Blasts Through $103,000 After Trump’s Pro-Crypto Pick for SEC

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