WEB DESK: Bitcoin extended its streak of record highs after ticking above $99,000 for the first time overnight. The cryptocurrency has rocketed more than 40 per cent in just two weeks.
Now, bitcoin is at the doorstep of $100,000, just two years after dropping below $17,000 following the collapse of crypto exchange FTX. The dramatic rally arrives as industry players expect the incoming Trump administration to bring a more “crypto-friendly” approach toward regulating the digital currency.
Bitcoin was trading at $98,882 early Friday, according to CoinDesk.
As with everything in the volatile crypto markets, the future is impossible to know. And while some are bullish, other experts continue to warn of investment risks.
Cryptocurrency has been around for a while now. But, chances are, you’ve heard about it more and more over the last few years.
In basic terms, cryptocurrency is digital money. This kind of currency is designed to work through an online network without a central authority — meaning it’s typically not backed by any government or banking institution — and transactions get recorded with a technology called a blockchain.
Bitcoin is the largest and oldest cryptocurrency, although other assets like Ethereum, tether, and Dogecoin have also gained popularity over the years. Some investors see cryptocurrency as a “digital alternative” to traditional money — but it can be very volatile, with its price reliant on larger market conditions.
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