The price of Bitcoin briefly surpassed $120,000, and the prices of virtual assets are rebounding across the board.
According to CoinMarketCap, a global virtual asset market tracking site, the price of Bitcoin was recorded at $118,701 as of 8:30 a.m. on the 17th. This represents an increase of 6.44% from a week ago and 0.98% from 24 hours ago. The price of Bitcoin surpassed $120,000 around 6 a.m. but soon fell back.
Earlier, the price of Bitcoin surged to an all-time high of $123,200 on the 13th, ahead of the 'Crypto Week' designated by the U.S. House of Representatives. However, it fell as a massive amount of profit-taking sales began. The passage of three cryptocurrency bills also faced hurdles, leading to a larger decline.
However, as optimism grew that the bills would eventually pass in the U.S. House of Representatives, a rebound succeeded. It is reported that U.S. President Donald Trump persuaded some Republican members of the House who had voted against the bills.