Bitcoin, the preeminent cryptocurrency in terms of market cap, recently reached an unprecedented milestone, hitting a record high of $100,000. The surge in the value of Bitcoin by 5% on a single trading day has notably boosted the market’s confidence, especially after a period of instability.

The world’s leading cryptocurrency, Bitcoin, just successfully achieved the benchmark price of $100,000, marking a historical all-time high. This significant breakthrough has effectively bolstered the market morale after a few weeks of uncertainty. The market capitalization also experienced a significant boost, climbing to a whopping $2 trillion, marking an increase of 5.74% at the time of reporting.

As per the data from CoinMarketCap on December 05, the price continued to soar, reaching an impressive $103,700, with a 33% increase in trading volume to a staggering $91 billion. The predominant market sentiment is overwhelmingly optimistic, standing at a high of 80%. The positive price trajectory has been fueled by the nomination of Paul Atkins by President Trump for the chairmanship of the Securities and Exchange Commission (SEC), which has brought a wave of positivity to the market. Ripple’s Brad Garlinghouse and Congressman Tom Emmer have also expressed their support for this nomination due to Atkins’ pro-crypto stance.

Federal Reserve Chairman Jerome Powell’s recognition of Bitcoin as a potential contender to gold further emphasizes the perception of this digital asset as a reliable safe-haven asset class. It is anticipated that Bitcoin price targets will continue to rise. Beyond the already achieved $100,000 target price, institutions and crypto enthusiasts still have faith in Bitcoin’s future growth, predicting its value to range from $150,000 to $500,000 in the forthcoming years.

Bernstein Research has projected an ambitious bullish target price of $200,000 for Bitcoin by 2025. This projection has been revised upwards from $150,000 owing to the increasing institutional demand globally.

Charles Hoskinson, the founder of Cardano, predicts that the Bitcoin price could escalate to $250,000 within a mere two years. He maintains that this target price is the minimum achievable value, while the maximum potential is a staggering $500,000.