The world’s largest cryptocurrency Bitcoin crossed the historic $120,000 mark for the first time on Monday. The surge comes as investors expect major regulatory changes for the crypto industry this week. According to a Reuters report, the US House of Representatives is set to begin debating several proposals on Monday that could provide new rules for the digital asset industry. These are rules that the industry has long been demanding. US President Donald Trump has called himself the crypto president and urged policymakers to change the rules in favor of the industry. However, despite the controversial tariffs, Bitcoin recorded this increase. Amid these expectations, Bitcoin reached a new record high of $121,207.55 in Asian markets on Monday and was later trading at $120,856.34. Bitcoin has gained 29% so far this year. Bitcoin’s rally in the past few weeks has also pushed other cryptocurrencies higher. On Monday, the second-largest currency, ether, also hit a five-month high of $3,048.23. According to CoinMarketCap, the total value of the entire crypto market is now about $3.78 trillion.
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