🚀 103,240 Bitcoin finally, Bitcoin MarketCap Hits 2 Trillion, Gold Marketcap and more 📈

December 4th 2024 will go as the day in history books for Bitcoin reaching $100,000. Yes….100,000 per Bitcoin. The party has not even started yet. 🚀🥇

Get ready to read some cool scoops from the Bitcoin World. Lets dive in… 🚀

Scoop in this issue…. 4 minute read…

✍️ 103,000 per Bitcoin Finally, Bitcoin MarketCap Hits 2 Trillion 🚀  

It was a dream of crypto folks to see 100,000 per Bitcoin. The crypto industry had to fight the Banks, regulators, tax authorities, Central banks, Jamie Dimon’s tulip bad mouth, Buffet and many more. The list never ends.

Many countries even made it illegal to hold Bitcoin. Banks like J P Morgan Chase & BoA even shut down account if USD(fiat) was transferred to any crypto companies or legit exchanges such as Coinbase in the US. Similar thing was done in India and UK as well.

The true believers still held it and kept believing. Michael Salyor kept saying to everyone to buy Bitcoin when rest of the banking industry told everyone to dump Bitcoin.

SEC’s Gensler even went after celebrities and companies who endorsed Crypto. He went after everyone and against the crypto industry with the help of Sen Warren/his allies.

Everyone wanted to kill Bitcoin but little they know its decentralized and not in the hands off any Central banks to control it?

The truth of the matter is no one can control it or print it like Central bank currently.

Now we see the light at the end of the tunnel.

Brian Armstrong, CEO of Coinbase was rewarding $100 for signing up in 2012. ( Brian tweeted and this is not mine)

If anyone had claimed the free 100$ worth of Bitcoin, the value would have been $1,500,000.

I guess no one saw that coming. Definitely not Peter Schiff. 

Its still not early like most Crypto folks say including Coinbase CEO. Every government, especially those looking to create a hedge against inflation, should create a Bitcoin strategic reserve. 

While some are celebrating the 100k Bitcoin, other are trying to short Bitcoin. As pr Ash Crypto, $1,060,000,000 worth of shorts will get liquidated if Bitcoin drops to $100,000

Bitcoin dominance in the Crypto market increased by small number to 56%.

(Bitcoin Dominance (BTCD) is a percentage metric that reflects the ratio of Bitcoin to the total value in the cryptocurrency market. Its dominance over other cryptocurrencies shows Bitcoin's influence and dominance over the market)

Bitcoin overall market cap reached 2 trillion. Overall crypto market is approx. 3.66 Trillion.

And Gold Market cap is roughly 17 Trillion if I recollect well as of early this week.

Its a matter of time before Bitcoin reached the 2nd position.

So whats NEXT ?

No one knows. ( Honest answer)

Once Bitcoin finds a range, the money will move towards Ethereum and then to other tokens. We discussed about this in last weeks newsletter. YOu can find details here under this section - ✍️ What’s next for Altcoins?

The chart below from previous issue explains better

As Balaji says in his tweet :

Now the moon buys on X will start their crazy predictions of Bitcoin and other tokens.

If you are interested to see this in action, head to Elon’s X. X and Reddit is crypto armt’s paradise.

Thats it for now. Hope you enjoyed this educational newsletter and helps you understand more about crypto space.

See you in our next edition with more info ! Thats it for Thursday !

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Peace out !!!

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