Bitcoin Reaches New All-Time High – Speculation on Easing of US Regulation Drives Price Over 122,000 Dollars

Bitcoin reached a new record high at the start of the week. On the Bitstamp trading platform, the price of the oldest and most important cryptocurrency climbed to over $122,600 on Monday morning. This broke the psychologically significant mark of $122,000 for the first time since May, continuing its record rally. In the afternoon, the cryptocurrency was listed slightly below at around $122,000.

The trigger for the price surge is speculation on a loosening of regulation in the USA. Since Donald Trump was re-elected as US President last November, Bitcoin has gained around 75 percent in value. Trump is considered a supporter of cryptocurrencies, fueling hopes that under his administration, trading and tax rules for digital assets could be eased.

Analyst Timo Emden from Emden Research refers in this context to the upcoming "Crypto Week" in the US Congress. In the week starting July 14, several legislative initiatives are on the agenda that could reorganize the trade of cryptocurrencies and their regulatory framework. Emden sees this as a clear signal: "The fact that the US House of Representatives convenes a 'Crypto Week' despite economic risks shows the political significance of Bitcoin and others under President Trump.

The current outbreak ends a weeks-long sideways movement of the Bitcoin price, which had stabilized around the $100,000 mark since May. The prospect of regulatory relief in the US is reigniting investors' risk appetite. Market observers expect this dynamic could continue if US lawmakers indeed provide clearer and more crypto-friendly frameworks.