January 20, (THEWILL) – The cryptocurrency has again soared through the mark as Bitcoin price reached a new all-time high of $109,114.88 on Monday, ahead of Donald Trump’s inauguration ceremony as the 47th President of the United States.
The cryptocurrency space faced initial disruption on Friday when Trump launched his meme coin.
However, the situation intensified in the past 24 hours as another meme coin, associated with Trump’s wife, entered the market, adding to the price pressure that temporarily pushed Bitcoin below $100,000.
Bitcoin price fell as low as $99,471.36 on Sunday before reversing course and climbing to record levels, creating what traders describe as a “God candle” in the price charts.
The price movement from the low of $99,471.36 to the new peak at $109,114.88 shows a nearly 10% swing within hours.
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