Bitcoin surpasses $118K, its second all-time high, in less than 24 hours

Bitcoin earned a new all -time maximum $ 118,900 after Friday Thursday’s previous record exceeded $ 113,822The

At the time of writing this, the price of Bitcoin stands around 7 117,400.

This is an important milestone for Bitcoin, because it highlights its resurrection, now is more than the lower surroundings $ 76,000 In early April. It dropped to about $ 49,000 last August.

Some analysts think that if it reaches $ 150,000, it will stop the frenzy of a purchase. It is important to note that Bitcoin, like most cryptocurrencies, can be super unpredictable. No one knows what will happen next.

Some of the reasons for contributing to Bitcoin’s enthusiasm include President Trump’s crypto position, which has raised more interest from institutional investors. (This group includes an entity with enough purchasing energy like banks and hedge funds)) These investors are buying Bitcoin that the cryptocurrencies will play a more important role in moving the financial sector forward, as a result.

In March, Trump Signed in an executive order Establish strategic Bitcoin Reserve.