What is the US’s Crypto Week? Why has Bitcoin hit a record high?

 Bitcoin has scaled $ 120,000 for the first time, a major milestone for the world’s largest cryptocurrency in the run-up to what could be a landmark week. 


Starting July 14, "Crypto Week" will see the US House of Representatives debate three industry-friendly bills that are likely to provide cryptocurrencies with the US regulatory framework that crypto insiders have long demanded.

US President Donald Trump has urged policymakers to revamp their rules, away from the plethora of lawsuits brought against crypto firms by the Securities and Exchange Commission (SEC) under former President Joe Biden (2021-2025), in favor of the industry.

Expectations of further tailwinds helped propel Bitcoin, up 29 percent so far this year, to a record high of $ 122,055 on Monday. Bitcoin, the very first cryptocurrency, began trading in January 2009, when it was valued at just $ 0.004.

The surge has sparked a broader rally across other cryptocurrencies as Ether, the world’s second-most popular token, reached a five-month high of $ 3,048.2 on Monday.

More generally, the sector’s total market value has swelled to roughly $ 3.8 trillion, according to CoinMarketCap.

Cryptocurrencies are a form of monetary exchange that allows people to bypass central banks and traditional payment methods.

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