Bitcoin is nearing a significant milestone as its value approached US$100,000 per coin.

The cryptocurrency traded between US$98,000 and US$99,000 in US markets, briefly reaching US$99,073.

The value of bitcoin has more than doubled this year. A 40% increase was observed since November’s election.

Expectations for a supportive cryptocurrency environment under United States President-elect Donald Trump may have influenced investor sentiment.

Trump expressed interest in digital assets during his campaign, hinting at a favorable regulatory approach.