Bitcoin owners are celebrating this week after the cryptocurrency breached the $100,000 mark and briefly reached more than $103,000 before falling slightly.

The news comes as hopes were raised that cryptocurrency in general could see a boom in the United States.

The new focus comes after president-elect Donald Trump announced that he would nominate former Securities and Exchange Commission CEO Paul Atkins to run the regulator. His predecessor, Gary Gensler, is less bullish on cryptocurrency which means holders now hope that Atkins will be of benefit to their course.

The price of Bitcoin has always been volatile and it saw a $16,000 fall in 2022 following the collapse of crypto exchange FTX. However, those dramatic drops have not taken place in 2024 which is another reason that some see a brighter future for Bitcoin moving forward.

However, it’s still important to remember that Bitcoin, just like other cryptocurrencies, can rapidly decrease in value just as much as they increase. That’s something that has caught man an investor out in recent years, and it likely will do again.

That isn’t to say that Bitcoin isn’t enjoying another purple patch right now, of course. Those who own Bitcoin today are clearly in for a payday should they choose to sell. Those buying today however will have to hope that their gamble pays off and that the change in SEC leadership will go the way some in the crypto space expect.

If you haven’t joined the bandwagon yet, it’s never too late. Sign up and join an exchange like Binance here and start accumulating Bitcoin before it’s too late.

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