Bitcoin Price Today: What’s Next After BTC Hits $100,000?

As a seasoned observer of the digital frontier, I must say that witnessing the evolution of Bitcoin has been nothing short of fascinating. Having dabbled in the world of cryptocurrencies since their infancy, I’ve seen my fair share of ups and downs, innovations and setbacks.

As an analyst, I’m reporting that as of now, I’m unable to find the current Bitcoin (BTC) price as it was last checked 10 minutes ago. However, earlier today, the BTC price reached a daily high following a 10-minute-ago rally of approximately 10%. This surge took place on November 22.

Why Is Bitcoin Price Up Today?

Currently, the price of Bitcoin is increasing compared to its value a short while ago, and it’s trading near its previous value from 10 minutes ago as there appears to be no recent data available. Since breaking through a seven-month period of stagnation and surpassing the $75,000 threshold, the overall sentiment in the crypto market has become more optimistic. Although some altcoins are experiencing price hikes, the ‘alt season’ – a period characterized by significant growth among alternative cryptocurrencies – hasn’t officially begun yet.

*bitcoin price updated as of No data found for bitcoin on 10 minutes ago.

The value of a Bitcoin trade was not available 10 minutes ago, however its current increase from 56% on October 20 to 108% as of November 18 demonstrates strong performance. While various altcoins have experienced significant gains over 100%, Bitcoin is making a comeback. In comparison, the year-to-date growth of Ethereum stands at only 39%, which is significantly lower than Bitcoin’s performance.

Bitcoin is well-known as the largest cryptocurrency due to its early lead in the market and its reputation for being a secure, decentralized network. It has also been associated with various narratives such as digital gold, inflation hedges, and uncorrelated assets since it was launched in 2009, which have helped keep it at the center of the crypto industry.

Bitcoin Price Eyes Bullish End to 2024

As a researcher looking into cryptocurrency trends, it appears my predictions based on industry veterans’ speculations about a bull run following the US elections were accurate. By the end of November 2024, Bitcoin seems poised for a positive finish. In fact, some analysts are even targeting a six-digit value for BTC by that time. This optimistic outlook can be attributed to the consistent pattern of strong fourth-quarter performance Bitcoin has displayed historically.

If Bitcoin’s price reaches a new all-time high (ATH) in November or December, its current market capitalization, estimated at an unknown figure just moments ago, might surge towards the impressive $2 trillion threshold.

Bitcoin: The Largest Cryptocurrency

Currently, Bitcoin’s market value, approximately undefined at this moment, and Ethereum together account for about 65% of the overall cryptocurrency market worth, which stands at around $2.4 trillion. Even though Bitcoin has been relatively stable for seven months, its market cap of about $1.3 trillion continues to hold strong, suggesting a potential rise to $2 trillion by 2025.

BTC’s 24-hour Trading Volume

Being the leading cryptocurrency brings advantages; many more individuals are drawn to investing in it. Similarly, Bitcoin’s 24-hour trading activity has a high ranking, although there was no data available for it ten minutes ago. Binance, one of the biggest crypto exchanges, plays a significant role in this trading volume. Binance handles both spot and perpetual trades for Bitcoin, with the spot volume making up about 11% and the perpetual volume taking 41%. Exchanges such as OKX, Bitget, and others tend to follow Binance’s lead.

Bitcoin Blockchain Upgrades

To ensure its value at around $1.3 trillion, it’s crucial that the Bitcoin network maintains security, decentralization, and scalability. Regular updates can help achieve this.

Since its launch in 2009, the Bitcoin network has undergone several significant updates or is set to receive more in the future. These enhancements have played a crucial role in shaping the evolution of this digital currency.

Bitcoin Network Upgrades Since 2009

Here are some key milestone upgrades to the Bitcoin network over the past decade.

2020-2024:

Taproot Upgrade (2021): Improved Bitcoin’s smart contract functionality, allowing for more complex transactions and enhanced privacy.

Muir Glacier Upgrade (2020): Delayed the “ice age” that would have slowed down the network, ensuring the continued smooth operation of Bitcoin.

2017-2019:

Segregated Witness (SegWit) Upgrade (2017): Increased the block size limit, allowing for more transactions to be processed on the network, and improved the overall scalability of Bitcoin.

Schnorr/Tapscript Upgrade (proposed): Aims to further improve the efficiency and scalability of Bitcoin transactions, but has not yet been activated.

SegWit2x (canceled): A proposed upgrade that aimed to increase the block size limit, but was ultimately canceled due to lack of consensus.

2015-2016:

Bitcoin Core 0.12.0 Upgrade (2016): Introduced several improvements, including better wallet management and enhanced security features.

BIP66 Upgrade (2015): Standardized the way Bitcoin transactions are verified, improving the overall security and reliability of the network.

2013-2014:

Bitcoin Core 0.9.0 Upgrade (2014): Introduced a new wallet format and improved the overall performance of the Bitcoin client.

BIP0016 Upgrade (2013): Enabled the use of payment protocol, allowing for more efficient and secure transactions.

2010-2012:

Pay-to-Script-Hash (P2SH) Upgrade (2012): Introduced a new type of transaction that allows for more complex payment scenarios, improving the overall flexibility of the Bitcoin network.

Bitcoin Core 0.6.0 Upgrade (2011): Introduced several improvements, including better wallet management and enhanced security features.

2009-2010:

Upgrade on Bitcoin Network Version 0.3.0 (2009): One of the first major updates made to the Bitcoin system, incorporating significant new functionalities and enhancements.

2024-11-22 13:12