Earning more profits every day… Bitcoin hits another all-time high

Korea Economic Daily

Summary

It was reported that Bitcoin broke through $119,000, setting a new all-time high once again.
This price surge was analyzed as a result of expectations related to the U.S. Congress' 'Crypto Week.'
If cryptocurrency bills such as the stablecoin regulation bill pass, it is expected to have a positive impact on the market.

Breaks through $119,000

The leading cryptocurrency, Bitcoin, has once again reached a new all-time high.

According to Coinbase, a U.S. cryptocurrency exchange, as of 11:22 a.m. Eastern Time (8:22 a.m. Pacific Time) on the 13th (local time), the price of one Bitcoin was trading at $119,049, up 1.37% from 24 hours earlier. This marks the first time Bitcoin has surpassed the $119,000 mark. It broke through the previous record high of $118,800 achieved just two days prior, on the 11th.

Bitcoin first surpassed the $112,000 level on the 9th. Since reaching its all-time high on May 22, it has maintained an upward momentum. On the 11th, it rose to $118,800. After pausing briefly due to strong selling pressure, the price is now gathering strength again, approaching the $120,000 level for the first time ever.

The rise in Bitcoin’s price is analyzed as reflecting expectations surrounding the U.S. Congress' 'Crypto Week' (Crypto Week).

This week, the U.S. House of Representatives is reviewing three cryptocurrency bills, including the stablecoin regulation bill—the GENIUS Act (Governing and Enabling National Innovation in the United States Act). The market anticipates that if these bills pass, the pro-cryptocurrency policies of the Donald Trump administration will gain further momentum. Previously, French Hill, chairman of the House Financial Services Committee (Republican-Arkansas), stated that this week will be 'Crypto Week' in the House.

Soyeon Kim, Hankyung.com Reporter sue123@hankyung.com