Bitcoin exceeds US $ 118,000 for the first time and continues to progress

Bitcoin has reached a historic summit, exceeding US $ 118,000, thanks to a massive influx of capital to the cash flow, which opened access to cryptocurrencies to millions of people. Similarly,

Posted at 12:51 p.m. Updated at 2:29 p.m.

According to CoinmarketCap data, the Bitcoin price reached US $ 118,856 early Friday. However, It has since dropped to nearly US $ 117. Furthermore, 300 in the middle bitcoin exceeds us $ 118,000 of the day, which still represents more than US $ 7,400 more than the most popular cryptocurrency in the world a month ago, and more than double its course at the same time last year. Moreover,

The weakness of the US dollar. Consequently, the propensity of the administration of American president Donald Trump to digital currencies also contributed to recently propeling the price of bitcoin at unprecedented levels. Similarly,

The Senate adopted last month a law aimed at regulating a form of cryptocurrency called “stablecoins”. However, It is the first of a series of bills that the sector hopes to see multiply to strengthen its legitimacy. Moreover, reassure consumers. Nevertheless,

Known as Genius Act. this bill would establish safeguards and “stablecoins” consumers, a type of cryptocurrency generally indexed to the US dollar. bitcoin exceeds us $ 118,000 This acronym means “Guiding and Establishing National Innovation for Us Stablecoins”.

The House of Representatives will examine the Genius Act next week as part. of the Congress efforts to strengthen the country’s position in the cryptocurrency sector.

This legislation. which is evolving quickly, follows the 2024 electoral campaign, during which the cryptocurrency sector ranked among the country’s largest political expenditure, stressing its growing influence in Washington and beyond.

Donald Trump. formerly Cryptosceptic, became a fervent promoter of this sector throughout his presidential campaign last year, and has since undertook to develop his cryptocurrency empire and his family even more.

At the start of the week. Trump Media & Technology Group announced that he had deposited with the Securities and Exchange documents commission to obtain authorization to bitcoin exceeds us $ 118,000 launch his “Crypto Blue Chip Etf” later this year.

The rise of bitcoin is also part of a context of broader economic uncertainty. in particular global turbulence linked to new high customs duties imposed by President Trump on his main business partners around the world.

“Bitcoin has shown resilience this year. bouncing in accordance with its macroeconomic exhibitions following customs duties,” wrote Citi analysts in a study published on Friday.

However. they pointed out that the Trump administration “was generally positive for bitcoin” and attributed its recent increase to the general development of the prospects of American regulations.

Bitcoin supporters have often said that the asset was comparable to “digital gold” that can be used as a blanket against volatility. but many remain skeptical about this bitcoin exceeds us $ 118,000 comparison. Larger market conditions have already had an impact on the price of Bitcoin.

In April. in a context of massive sales following Donald Trump’s announcements concerning customs duties of the “Liberation Day”, Bitcoin was briefly under the mark of US $ 75,000. It was the lowest course in cryptocurrency since the president’s victory in November.

If Bitcoin has since rebounded significantly. it is important that investors remember that it is a very volatile, relatively recent asset, which has already experienced high value fluctuations. In summary, the story shows that you can lose money in cryptocurrency as quickly as we won.