FRANKFURT (dpa-AFX) – Bitcoin has continued its upward movement since the beginning of the year and rose back above $100,000 on Monday with a significant price jump. In the early afternoon, the oldest and best-known cryptocurrency was temporarily trading at around $101,200 on the Bitstamp trading platform.
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The weak phase at the end of last year appears to have ended for the time being. In the last days of December the price had fallen to almost $91,000. With the recent recovery, Bitcoin is once again approaching its record high, which it reached on December 17th at $108,464.
“Investors on both sides of the Atlantic continue to warm up to the official inauguration of Donald Trump and thus to a crypto-friendly Washington,” commented analyst Timo Emden from Emden Research. In addition to a rapid introduction of strategic Bitcoin reserves, investors are likely to particularly hope for a significant relaxation of regulations in the United States.
In addition, the prospects for Bitcoin from a chart perspective have brightened. Contrary to what was recently feared, the support at around $90,000 that has been evident since the end of November has held several times. The price of the cryptocurrency is currently trading just above the 21- and 50-day average lines, which describe the short- and medium-term trends respectively. In the long term, the 200-day line has held steady at around $72,500 since mid-October 2024.
With a premium of just over 120 percent, Bitcoin was one of the most successful asset classes of 2024. Its market capitalization is currently almost two trillion dollars. According to a list by the provider CoinMarketCap, it dominates the market of around 10,500 cryptocurrencies. These all come to a value of just over 3.5 trillion dollars./jkr/la/jsl/he