Bitcoin reach all-time high above $124,000

Bitcoin prices rallied on August 13, reaching a fresh, all-time high above $124,000.

The world’s most valuable digital currency had climbed to roughly $124,380 around 3:30 am (MSK), according to Coinbase data from TradingView.

As of 1:42 a.m. Moscow time (10:42 p.m. GMT on August 13), the Bitcoin price was up by 2.86% at $123,500.

By 1:55 a.m. Moscow time (10:44 p.m. GMT on August 13), the price of the cryptocurrency had narrowed gains to 2.57% as it traded at $123,200.

Bitcoin rose over 1% Thursday to just above $121,655 after hitting a record Wednesday, driven by institutional demand and bets on looser monetary policy.

The cryptocurrency has gained 31% year-to-date and is up 60% from April’s market lows.