Bitcoin falls below $100,000

ISTANBUL

The price of Bitcoin fell below $100,000 on Thursday after hitting a record high of $103,900.

The price of the world’s largest cryptocurrency was at around $99,300 as of 2000GMT.

The market expects positive developments for cryptocurrencies after US President-elect Donald Trump’s win in the presidential election because he pledged that his country would be the "crypto capital" of the world.

The market cap of Bitcoin recently stood at $1.97 trillion, according to figures by Coinmarketcap, a digital asset price-tracking website.

Bitcoin was hovering around $68,000 on the eve of the US Election Day on Nov. 5 and it has since gained around 50% of value.