Bitcoin crosses $100,000 mark for first time

bitcoin price Cryptocurrency prices have been rising so far this year, and on Wednesday, the cryptocurrency's price surpassed the $100,000 mark for the first time.

The cryptocurrency’s price has increased by more than 5% in the past 24 hours.

The latest rally began with the election of Donald Trump as president, as he promised to create a more pro-cryptocurrency regime than current President Joe Biden. On Wednesday, Trump appointed cryptocurrency supporter Paul Atkins as chairman of the U.S. Securities and Exchange Commission.

Under Biden, the U.S. Securities and Exchange Commission take legal action Targeting cryptocurrency exchanges such as Coinbase, it is claimed that some crypto tokens sold through these platforms are actually unregistered securities. The crypto industry donated $245 million during the election cycle, According to CNBC.

Reuters reports that small businesses are losing momentum due to Trump’s pro-crypto stance Shift some investments from cash to cryptocurrencies.

Bitcoin’s price is up about 50% since Election Day and is up more than 100% for the year.