Bitcoin Hits New Peak Above $124,000 Amid Crypto Rally
A cutout of US President Donald Trump holding a Bitcoin is displayed on a group of servers during The Bitcoin Conference at The Venetian Las Vegas in Las Vegas, Nevada.
Image: Ian Maule / AFP
Bitcoin hit a record high on Thursday during early Asian trading, surpassing $124,000, driven by favourable US legislation and a rise in US equities.
The cryptocurrency rose above its previous July record, briefly exceeding $124,500 before retreating.
US stocks ended higher Wednesday, with the S&P 500 index and the tech-heavy Nasdaq reaching new heights this week, contributing to the cryptocurrency’s rise.
Bitcoin’s value has recently soared, fuelled by US regulatory changes under US President Donald Trump, a strong backer…
