Bitcoin hits historic high, surpasses $124,000 in Asian markets

(Web Desk): In Asian markets, Bitcoin price crosses all-time high of $124,000 for the first time in history.

On Thursday, at the start of Asian trading hours, Bitcoin set a new record by surpassing the $124,000 mark. This surge was driven by favorable legislation in the United States and improvements in the US stock market.

Surpassing the previous record set in July, Bitcoin briefly went above $124,500 before experiencing a slight decline.

Additionally, on Wednesday, US stocks also showed improvement. The S&P 500 Index and the tech-heavy Nasdaq Index both hit new highs this week, which also impacted the cryptocurrency market positively.

The recent surge in Bitcoin's price is also linked to regulatory changes under US President Donald Trump, who is considered a strong supporter of cryptocurrency.

Crypto prices have also been bolstered by the influence of major companies and individuals known as “whales” — those who hold large amounts of crypto assets.