Bitcoin Price Surges Above $103,000 in Historic Rally

Bitcoin made headlines on Wednesday when it surged past the $100,000 mark, reaching an all-time high and sparking excitement across the crypto industry. The digital currency peaked around $103,600 before settling at around $103,000 at midnight EST. It’s important to note that crypto markets can be volatile, and prices can vary slightly across different exchanges.

While Bitcoin stole the show, other cryptocurrencies also saw gains. Alt-coins like Ethereum and Dogecoin saw increases of around 7%, but not all coins benefited from Bitcoin’s rally. For example, Solana remained steady while XRP tokens associated with Ripple dropped about 10% after a recent surge of 65%.

The surge in Bitcoin’s price coincided with the announcement of Paul Atkins, a libertarian and former regulator, being chosen to lead the Securities and Exchange Commission. This news was well-received by the crypto market, which is anticipating a shift towards looser regulation and more innovation in blockchain technology under Atkins’s leadership.

The popularity of new ETFs from companies like BlackRock and Fidelity has also contributed to the rise in crypto prices, providing more conservative investors with access to Bitcoin through shares.

This latest milestone for Bitcoin comes as the cryptocurrency is experiencing its fourth major bull market cycle since its inception in 2009. From trading for pennies to reaching highs of nearly $20,000 in 2017 and then around $65,000 in 2021, Bitcoin’s journey has been nothing short of remarkable.

As the crypto market continues to evolve and attract more attention, it’s essential to stay informed and educated about these digital assets. If you’re interested in learning more about cryptocurrencies, check out Fortune’s Crypto Crash Course for short, easy-to-read lesson cards. Stay tuned for more updates and insights on the exciting world of crypto!