Bitcoin stalls short of US$100,000. What next?

THE world’s biggest cryptocurrency has been volatile as a wave of profit-taking caused Bitcoin to fall short of hitting the key US$100,000 level.

Despite the pullback, market watchers believe the road to US$100,000 is intact, citing heightened investor interest and the promise of a more crypto-friendly regulatory climate in the US. The asset has still soared some 120 per cent so far this year.

US president-elect Donald Trump’s win had fuelled Bitcoin’s blistering rally – the asset surged more than 40 per cent since Nov 6 to a record US$99,485 on Nov 22 – adding around US$1 trillion to its total market value.