Ahead of President Donald Trump’s inauguration on Monday, the price of Bitcoin has crossed $108,000 mark.
According to data by CoinMarketCap, a price-tracking website for crypto assets, the new all-time high price comes hours before the second coming of Trump.
The development comes after Bitcoin dropped to as low as $99,664 in the early hours of Monday.
Recall that bitcoin gained 3.3 percent and $111 billion in volume of trade over the past 24 hours.
Also, cryptocurrency market capitalisation also increased to $3.95 trillion — gaining $484 billion within the same period.
A further analysis of the market cap showed that Bitcoin has 55 percent, while Ethereum, trading at $3,396 (the second largest cryptocurrency), has 10.6 percent — leaving other coins with the remaining 33 percent before bouncing back.
The rise in Bitcoin’s price started on November 5 when Donald Trump, a Republican Party candidate, won the US presidential election. The digital asset reached $75,000 on that day.
One month later, the digital currency reached $100,000 — the first time in its 15 years of history.
Meanwhile, earlier Trump had launched his own cryptocurrency or memecoin, called $TRUMP.
The move had sparked a rally that sent its market capitalisation soaring to $14 billion.
