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Bitcoin Today 12/05/2024: BTC goes from zero to $100,000 in 16 years
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December 5, 2024 will go down as one of the most important in the long history of Bitcoin (BTC) success. Almost 16 years after Satoshi Nakamoto revealed his creation to the world, the Bitcoin (BTC) has finally broken the barrier of US$100 thousand.
The historic milestone occurred on Wednesday night (4), when BTC tried to break this barrier again. This Thursday (5), the break was consolidated and the cryptocurrency rose 6.1%. According to CoinGecko, BTC opened the day at US$102,444 and its market value surpassed the US$2 trillion mark.
With this appreciation, BTC registered the second biggest daily increase in the Top 10 – second only to Dogecoin (DOGE), which rose 6.8%. On the other hand, XRP had a correction and fell 8.3%, the biggest drop in the Top 10. Next came BNB with a drop of 5.7%, which also suffered a correction after recording a new historic high.
According to data from Spot on Chain, the Mt. Gox transferred 24,052 BTC this Thursday. The amount corresponds to around US$2.43 billion, taking into account BTC above US$100 thousand.
Mt Gox transfers 24,000 BTC
The data shows that the exchange sent the funds to a new wallet identified as “1N7jW”. This transaction occurred shortly after BTC reached $100K, attracting notable attention.
Despite speculation that the wallet is an internal address, market watchers remain apprehensive as the exchange has not yet paid its creditors. Therefore, many believe that Mt Gox may be preparing new payments.
Furthermore, on-chain data also showed that the exchange held 15,826 BTC, worth $1.63 billion, in 31 known wallet addresses to date. In November, the exchange moved 2,500 BTC, but it was not for sale but rather an internal movement between wallets.
With its arrival at the US$100,000 milestone, Bitcoin confirmed its growing adoption and perceived value. According to Fernando Pereira, an analyst at Bitget, the focus is on the next possible resistance levels, targeting targets of $150,000 and even $200,000.
As for 2025, Pereira highlights the long-term forecasts project that the Bitcoin will set new all-time highs before altcoins regain investor attention and interest. Despite these optimistic scenarios, the volatility inherent in the crypto market cannot be ignored. Investors must remain vigilant and prepared for possible corrections.
Bitcoin Today 12/05/2024: BTC goes from zero to $100,000 in 16 years
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Bitcoin Today 12/05/2024: BTC goes from zero to $100,000 in 16 years
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Bitcoin Today 12/05/2024: BTC goes from zero to $100,000 in 16 years
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Bitcoin Today 12/05/2024: BTC goes from zero to $100,000 in 16 years
