100,000 within reach

Bitcoin rises above 93,000 US dollars for the first time

Bitcoin's record chase only came to a temporary halt in the middle of the week. After falling to just over 86,000 US dollars in the morning, the digital currency surpassed the 93,000 dollar mark for the first time in the afternoon. On the Bitstamp platform, Bitcoin was last quoted at just under 92,800 dollars.

"The 100,000 dollar mark could soon fall," wrote expert Timo Emden from Emden Research. The pace of the rally is still impressive and frightening at the same time. "Now even the last market participants are betting that Donald Trump will act as patron saint for Bitcoin and Co. and actually put the praise he has already received into practice," the commentary continued.

Trump was the favorite of a majority in the crypto community during the election campaign. Although he made negative comments about Bitcoin during his first presidency, he has recently been actively courting the crypto community. At a major Bitcoin conference in Nashville, Trump promised to leave the crypto market largely unregulated and to provide cheap electricity for calculating new Bitcoin coins ("mining").

Panic at the end of the day
"There seem to be few limits to price fantasies at the moment, which is currently causing investors to display a certain amount of panic about closing the door," Emden continued. The question arises each time anew as to whether new buyers will step to the sidelines and drive the price upwards despite ambitious price highs.