Journey Of A Historic Win For Crypto Community : Bitcoin Hit 100K$

4 min readDec 11, 2024

Bitcoin reached the monumental milestone of $100,000 per coin for the first time on December 4, 2024, marking a historic moment in the cryptocurrency market. This surge was fueled by a mix of regulatory advancements, macroeconomic factors, and a favorable political climate in the United States. In this article, we will examine this journey from the darkest chapter of the bear market to today.

Terra Luna Crisis

It all began in May 2022, during what would later be remembered as one of the darkest chapters in cryptocurrency history — the Luna crisis. TerraUSD, a stablecoin that once promised to hold its peg to the US dollar, broke that promise spectacularly. As UST spiraled out of control, the collapse of the Luna ecosystem wiped out over $40 billion in value, shaking the entire crypto market to its core. Bitcoin, the cornerstone of this digital economy, wasn’t spared. It tumbled below $30,000, and fear blanketed the community. Questions arose: Was this the end of crypto’s dream?

After that crisis, BTC price is down buy %60 and reached 17K$ — After that crisis BTC price is plumped by %65 percent and reached 17K$

Regulations and a Growing Respect

Governments around the world took note of the chaos and began introducing stricter rules to curb reckless experimentation in crypto markets. At first, this seemed like yet another hurdle, but it was precisely the clarity that institutions had been waiting for. By 2023, Bitcoin was no longer just a rebel’s asset; it was becoming an accepted piece of the global financial puzzle. Institutional investors started wading back into the market, their confidence bolstered by the regulatory frameworks now in place.

A Changing Tide in Global Finance

By late 2023, winds of change swept through traditional finance. Years of aggressive interest rate hikes by the Federal Reserve gave way to a softer approach. Inflation fears persisted, and the allure of assets that could resist this monetary erosion grew. Bitcoin, often dubbed “digital gold,” started regaining its shine, surging past $50,000 for the first time in over a year. Momentum was building, but the biggest catalyst was yet to come.

One Of The Biggest Milestones In Crypto History : Approval Of Spot Bitcoin ETFs

Early in 2024, a landmark decision by the U.S. Securities and Exchange Commission sent shockwaves through the financial world. After years of rejections, the first Bitcoin Spot ETF was approved. This wasn’t just another financial product — it was a gateway for traditional investors to access Bitcoin with ease. Almost overnight, billions of dollars poured into the market. Retirement funds, hedge funds, and retail investors all clamored for a slice of the pie. Bitcoin surged to $75,000, and the dream of six-figure Bitcoin didn’t seem so far-fetched anymore.

Larry Fink — CEO of BlackRock which is the biggest investment provider in the world with 7.5 trillion dollars asset value defined Bitcoin as “Digital Gold” in an interview after the approval of Spot Bitcoin ETFs.

The Halving Sparks a New Chapter

In April 2024, the Bitcoin network reached another milestone — its fourth halving. As block rewards for miners were cut from 6.25 BTC to 3.125 BTC, the long-anticipated supply squeeze began to take effect. Historically, halvings had always been followed by significant price surges, and this time was no different. Miners held onto their freshly minted coins, reducing the circulating supply just as demand skyrocketed.

Donald Trump : First Pro-Crypto U.S. President In History

The 2024 U.S. presidential election significantly influenced Bitcoin’s rally. Donald J. Trump’s victory, coupled with a pro-crypto stance, catalyzed positive sentiment within the cryptocurrency markets. His administration’s promises, including potential deregulatory measures for digital assets, provided a major boost to investor confidence.

On 27 July 2024 Donal Trump attended Bitcoin Conference in Nashville as speaker and he vowed to create a “bitcoin and crypto presidential advisory council.” “ The rules will be written by people who love your industry, not hate your industry,” he said. He also said that he will fire Garry Gensler referencing the Joe Biden-appointed SEC chairman who has taken an aggressive approach to crypto regulation.

During his campaign, Trump highlighted the importance of blockchain technology and Bitcoin as tools for financial innovation. Following his election, the Republican-controlled Congress signaled support for crypto-friendly policies, further encouraging institutional investors to embrace Bitcoin. This political shift, alongside the broader trend of Bitcoin ETFs and global macroeconomic instability, created an environment ripe for Bitcoin’s growth.