Khaberni -Bitcoin reached an unprecedented new level on Monday as it surpassed $120,000 for the first time, indicating an increase in confidence and investment in the world's largest cryptocurrency amid investor expectations of long-awaited policy gains for this type of asset this week.
Bitcoin reached its all-time high at $121,207.55 in Asian trading today before it slightly retreated to record $121,015.42 in the latest trading, an increase of 1.6 percent.
The U.S. House of Representatives begins today a discussion of a series of laws to provide a regulatory framework for the digital asset industry, a long-awaited demand.
This demand has resonated with U.S. President Donald Trump, who describes himself as the "Cryptocurrency President" and has urged policymakers to update the rules to serve the sector.
Bitcoin has risen by 29 percent this year so far, leading to a broader rally in other cryptocurrencies over the past weeks despite the tariffs imposed by Trump which caused much turmoil.
Ether, the world's second-largest cryptocurrency, also jumped to its highest level in over five months at $3,050.90, and XRP and Solana rose by about three percent.
The total market value of the sector has reached about $3.78 trillion according to data from Coin Market Cap, a website specializing in tracking the digital currency market.
