The Blockchain Bulletin, Dec 5: Bitcoin Hits Historic Milestone at $100K

The entire crypto industry awaited for this day! The coin that started with merely nothing has now become everything. Surpassing beyond $100K, Bitcoin has created a historical milestone. Despite coming closer earlier till $98K, the coin faced a steep dip till $92K. However, crossing all odds, Bitcoin has hit $100K. 

This was what Satoshi Nakamoto envisioned 15 years prior. The pseudonymous holder’s years of resilience in building the coin has finally paid off! With this decentralized financial revolution, Nakamoto continues to serve the dreams of millions, who placed their faith in it. The history of Bitcoin reveals the success story of the blockchain industry and the functioning of visionary minds behind it.

Analysts have linked the growth to increased institutional adoption and development of macro factors that boosted the demand for cryptocurrencies. With Bitcoin in the lead, the crypto community consider it as a big break for cryptocurrency. With more investors, the market observers hope for more positive trends in the constantly changing market.

With Bitcoin leading the show, tokens like AVAX, DOT, FTM, and AAVE witnessed significant increase in their prices. If persisted, they would gain traction in the DeFi sector. Further, VeChain (VET) has also attracted attention. Analysts point out that, with consistent surge, it could attain its previous all time high of $0.2. 

While excitement in the market is still on the rise, the regulatory body is becoming more stringent. One of the largest exchanges, Binance, is currently facing trouble in India. The exchange had allegedly evaded GST worth $85 million. This case reveals that the conflict between the crypto industry and authorities across the globe has not been resolved yet. This brings to light the challenges faced by the crypto industry with regulatory authorities globally. Further, to strengthen its hold on digital assets, the Australian Securities and Investment Commission (ASIC) has sought to exercise firm grip on the crypto trade. 

In the political aspect, Meta’s chief Mark Zuckerberg sought a close collaboration with the President-elect Donald Trump. The duo discussed for better regulatory policies in the tech sector. This new proposed partnership has left some uncertainty for America’s technology policy and its impact towards the crypto industry.  On the other hand, Paul Atkins, the former commissioner at SEC, is strongly considered to be the next SEC Chair. If appointed, Atkins’s entry would bring fresh and fully crypto inclined approach to the regulation field.

In the DeFi sector, PancakeSwap launched its Springboard feature to create tokens seamlessly. This innovation opens up new pathways for project creation and allows for continued decentralization of the financial sector.

In summary, with Bitcoin soaring above $100K, it has aroused investor interest, boosting market sentiment. However, with stringent regulatory guidelines and technological innovations, the crypto community awaits its next phase in the evolution of cryptocurrency.