The price of the leading cryptocurrency Bitcoin has surpassed $100,000 again and is approaching the $105,000 mark.
According to CoinMarketCap, a global cryptocurrency market tracking site, Bitcoin is trading at $104,077 as of 7:16 a.m. on the 12th. This represents a 0.47% increase from the previous day. At the same time, Ethereum is trading at $2,506, reflecting a 0.71% decline compared to the previous day.
Bitcoin recovered the $100,000 level on the 8th. This marks the first time Bitcoin has surpassed $100,000 since February 2nd. Expectations for trade negotiations between the U.S. and China, underway in Geneva, Switzerland, seem to be driving the price up.
Jeff May, the chief operating officer of the global cryptocurrency exchange BTSE, noted, "Optimistic outlooks for U.S.-China trade negotiations this weekend are easing trade tensions and moving funds back into risk assets like cryptocurrencies," adding, "This could potentially drive Bitcoin above its all-time high." Bitcoin approached the $109,000 range on January 21st, setting a record high.
Cryptocurrency-friendly policies are also positively impacting prices. On the 7th, a bill aimed at strategic state-level Bitcoin holdings was passed in New Hampshire, and on the 8th, Arizona also passed a bill supporting local cryptocurrency holdings.