Latest news with #alltimehigh
ABC News
3 days ago
- Business
- ABC News
Bitcoin price hits record high
The price of Bitcoin has reached a new all-time high this week — surpassing $US120,000. Analysts say the crypto currency's recent rises is off the back of support from the Trump administration and US regulators. But its rise to new heights has also raised concerns over whether Bitcoin's now trading in a bubble — which would be the biggest in history.
Yahoo
6 days ago
- Business
- Yahoo
Bitcoin surpasses $118K, its second all-time high, in less than 24 hours
Bitcoin achieved a new all-time high of $118,900 on Friday after exceeding its previous record, $113,822, on Thursday. At the time of this writing, Bitcoin's price stands at around $117,400. This is a significant milestone for Bitcoin, as it highlights its resurgence, now higher than its low of around $76,000 in early April. It dropped to nearly $49,000 last August. Some analysts think that if it reaches $150,000, it'll set off a buying frenzy. It's important to note that Bitcoin, just like most cryptocurrencies, can be super unpredictable. Nobody really knows for sure what's going to happen next. Some factors contributing to Bitcoin's surge include the pro-crypto stance of President Trump, which has spurred greater interest from institutional investors. (This group includes entities with substantial buying power, like banks and hedge funds.) These investors are buying up Bitcoin with the expectation that cryptocurrencies will play a more significant role in the financial sector moving forward, consequently driving up the value. In March, Trump signed an executive order establishing a strategic Bitcoin reserve. Sign in to access your portfolio
TechCrunch
6 days ago
- Business
- TechCrunch
Bitcoin surpasses $118K, its second all-time high, in less than 24 hours
Bitcoin achieved a new all-time high of $118,900 on Friday after exceeding its previous record, $113,822, on Thursday. At the time of this writing, Bitcoin's price stands at around $117,400. This is a significant milestone for Bitcoin, as it highlights its resurgence, now higher than its low of around $76,000 in early April. It dropped to nearly $49,000 last August. Some analysts think that if it reaches $150,000, it'll set off a buying frenzy. It's important to note that Bitcoin, just like most cryptocurrencies, can be super unpredictable. Nobody really knows for sure what's going to happen next. Some factors contributing to Bitcoin's surge include the pro-crypto stance of President Trump, which has spurred greater interest from institutional investors. (This group includes entities with substantial buying power, like banks and hedge funds.) These investors are buying up Bitcoin with the expectation that cryptocurrencies will play a more significant role in the financial sector moving forward, consequently driving up the value. In March, Trump signed an executive order establishing a strategic Bitcoin reserve.
Fast Company
6 days ago
- Business
- Fast Company
Why is Bitcoin up today? $120,000 milestone in reach as cryptocurrency enjoys summer rally
Investors in reigning cryptocurrency champ Bitcoin are having a pretty good week. As of the time of this writing, the crypto is up over 8% this week and over 6% in the last day alone. The token is now within reach of the psychologically important $120,000 threshold, which would be an all-time high. Here is a possible reason for Bitcoin's recent all-time highs. Bitcoin's rise to $120,000 As of the time of this writing, BTC is sitting at just above $118,000 per coin after hitting an earlier all-time high of $118,780. At $118,000, Bitcoin is within striking distance of hitting $120,000 per coin, which would mark the first time in history that Bitcoin has reached that level. That threshold would represent a psychologically important barrier and could serve as a launchpad for Bitcoin to rise further in the months ahead. Today's all-time high price is also notable because it is a reversal of fortune for the coin, which saw its value plummet to nearly $76,000 in April. Over the past year, the coin had gone even lower, falling to nearly $49,000 in August. But since its April 2025 lows, Bitcoin has been steadily climbing, and in the past week alone, the coin has jumped nearly 8%. But what's behind its most recent gains? Institutional demand for Bitcoin is up It's never possible to say with 100% certainty why Bitcoin rises or falls. So much of Bitcoin trading, like most asset trading, is based on fear or greed—powerful emotions fueled by myriad real-world factors. However, one of the reasons Bitcoin may be surging this week is due to institutional investors, notes Reuters. Institutional investors are group entities and differ from what are known as retail investors —individuals who invest in the stock market. Institutional investors include banks, hedge funds, pension funds, and other organizations that have tremendous buying power. And as Reuters notes, institutional demand for Bitcoin and other cryptocurrencies has been surging lately as the digital tokens gain legitimacy as another arm of the economy, particularly after President Trump signed an executive order in March establishing a strategic cryptocurrency reserve. Legitimacy increases demand for an asset, and so institutional investors are snapping the tokens up, leading to an increase in their value, based on the assumption that the coins will become a more important part of the financial sector going forward. As for where Bitcoin goes from here—no one knows for sure. Bitcoin, like most crypto assets, is highly volatile. The price can fluctuate widely over just a few days. Some Bitcoin proponents believe passing the $120,000 threshold could mean that the token is on its way to hitting $150,000.
CTV News
7 days ago
- Business
- CTV News
Bitcoin hits another record high
FILE - A bitcoin token is placed on a mirror for a photograph in Prague, Czech Republic, Sunday, May 11, 2025. (AP Photo/Petr David Josek, File) Bitcoin rallied to another all-time high on Thursday helped by rising demand from institutional investors as well as friendly policies of the administration of U.S. President Donald Trump. In March, Trump signed an executive order to establish a strategic reserve of cryptocurrencies. He has also appointed several crypto-friendly individuals, including Securities and Exchange Commission Paul Atkins and White House AI czar David Sacks. Trump's family businesses have also made forays into cryptocurrencies. Trump Media & Technology Group DJT.O is looking to launch an exchange-traded fund that will invest in multiple crypto tokens including bitcoin, according to an SEC filing on Tuesday. The world's largest cryptocurrency BTC= rose to a fresh record high of US$113,734.64. It is now up about 21 per cent this year. Reporting by Chibuike Oguh in New York. Editing by Nick Zieminski
