Bitcoin hits new all-time high in value
Photo: Bitcoin cryptocurrency continues to hit record highs (Getty Images)
Bitcoin has set another all-time high, reaching a value of $119,000, according to CoinDesk.
On the afternoon of Sunday, July 13, Bitcoin hit a new all-time high of $119,308.
However, just two hours after reaching the record, the cryptocurrency's value dropped to $118,882, still up 1.38% over the past 24 hours.
The new record may have been triggered by President Donald Trump’s announcement of plans to impose 30% tariffs on imports from EU countries and Mexico.
Bitcoin's record-breaking rallies
Bitcoin previously set a record on Friday, July 11.
Back in May, Bitcoin surged to a new all-time high of over $109,000 on the exchange. The jump was driven by a significant influx of capital into spot exchange-traded funds (ETFs), which attracted $3.6 billion in net capital in just one month.
Shortly before that, the cryptocurrency crossed the psychological $100,000 mark for the first time in months, posting a daily gain of over 3%.
