Bitcoin has shown significant gains, rising over 8% this week, reaching above $118,000, close to the crucial psychological barrier of $120,000. This rise follows a previous all-time high of $118,780. Bitcoin's value had previously plummeted to around $76,000 in April and nearly $49,000 in August. The current surge is attributed to growing institutional demand, as institutional investors, including banks and hedge funds, are increasingly engaging with Bitcoin, enhancing its legitimacy and buying power in the market.
Bitcoin has jumped over 8% this week, nearing the psychologically significant $120,000 threshold, marking the potential for an all-time high.
Bitcoin has risen from nearly $76,000 in April to above $118,000, indicating a reversal of fortune and a strong demand from institutional investors.
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