The highly volatile rollercoaster in the cryptocurrency market continues in full force as BTC added approximately ten thousand dollars in a matter of hours and skyrocketed to a new all-time high of just $110,000.
This comes just hours before President-elect Donald Trump is sworn in and returns to office.
It’s been a wild ride in the crypto space over the past few days. It all started on Friday when the next president of the United States launched his own meme coin that sent shockwaves through the market.
The controversy continued in the last 24 hours when his wife launched her own meme coin. BTC and most altcoins plummeted heavily, as the top cryptocurrency even fell below $100,000 at one point.
However, the bulls have taken control again as they initiated a massive bullish move in the following hours. Bitcoin not only managed to recover all the losses, but a few minutes ago it went more on the offensive and soared to $109,420 (on Bitstamp) to break its December all-time high and chart a new one.
This puts BTC’s market capitalization at over $2.1 trillion, once again making it the seventh largest asset by that metric. Next in line are Amazon ($2.375 billion) and Alphabet ($2.4 billion).
This increased volatility and new record comes just hours before Trump’s inauguration, which is scheduled for today. Given their relationship and their promises to the industry, expect more fluctuations as the day progresses.
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