Bitcoin's price reached an all-time high in the early hours of August 14th (Vietnam time). Photo: Reuters.
Early morning on August 14th (Vietnam time), Bitcoin – the world's largest cryptocurrency – rose 0.9% to $124,000, breaking the record set on July 14th. Currently, Bitcoin is temporarily retreating to the $123,000 mark.
Notably, Ether – the second-largest cryptocurrency – also reached $4,780, its highest level since late 2021.
According to Tony Sycamore, a market analyst at IG, Bitcoin's upward momentum is supported by expectations of an early Fed interest rate cut, sustained institutional buying, and the Trump administration's move to ease regulations on digital asset investments.
" If it surpasses $125,000, Bitcoin could reach $150,000 ," he asserted.
Bitcoin price movement over the past 24 hours. Image: CoinMarketCap.
Since the beginning of the year, Bitcoin has risen nearly 32% thanks to significant advancements in the legal framework following Trump's return to the White House. Calling himself the "Crypto President," he and his family have consistently supported this asset class.
Recently, an executive order paved the way for including digital assets in 401(k) retirement accounts, reflecting an increasingly favorable legal environment in the United States.
This policy follows several legal victories since the beginning of the year, including new regulations on stablecoins and the U.S. Securities and Exchange Commission (SEC) adjusting regulations to better suit this asset class.
Bitcoin's surge also triggered a wave of price increases across the cryptocurrency market, despite the impact of the Trump administration's broad tariff policies.
Data from CoinMarketCap shows that the cryptocurrency market capitalization has surpassed $4.18 trillion, a sharp increase from around $2.5 trillion in November 2024 – the time when Trump was re-elected.
The latest executive order not only expands access to digital assets in 401(k) accounts but also promises to benefit fund managers like BlackRock and Fidelity, which operate cryptocurrency ETFs.
However, experts warn that including cryptocurrencies in retirement portfolios still carries risks, as this type of asset is much more volatile than stocks and bonds – which are traditional investment channels for retirement funds.
Source: https://vtcnews.vn/bitcoin-pha-dinh-moi-thoi-dai-ar959748.html
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