BTC Hits $100K, Immediately Shoots Through the Milestone

Since then, for most of November and early December, Bitcoin fluctuated at around the $95,000-$97,000 levels, failing to finalize its push towards the $100K price tag. That is, until the early hours of December 5th – today – when it not only reached the target price, but also flew right past it, consolidating (at least for the moment) at the $102,000 level.

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What does this mean for the market moving forward? Analyzing the sentiments that have been lingering for the past month, it’s clear that this milestone can go both ways. Some experts predict this to be the start of a new cycle, with Bitcoin’s price skyrocketing even further, and the alt market following in its steps.

Others, however, fear major sell-offs and liquidations of longs, seeing the milestone as a sort of signal that the sentiment is turning, and we’re about to enter the bear phase of the cycle.

While it’s uncertain how the broader market will react to this historic event in the days to come, the Fear & Greed index is currently sitting comfortably in the “Extreme Greed” zone, which could signal potential further growth, at least in the short-term.

Whatever the case might be, one thing’s for certain – history has been made, with a major milestone that’s been “in the works” for the last 15 years. No matter how you look at it, today is a day of celebration for the Bitcoin & crypto community worldwide.

To honor this momentous occasion, BitDegree has launched a new Mission exploring the history of Bitcoin. The Mission, “Bitcoin $100K Special: Watch History Unfold,” includes a Lucky Draw featuring a prize pool of 1,000 USDC
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