I am the root, just around noon today at 11 o'clock, the price of BTC quickly surged in a short time, breaking through 120,000 US dollars for the first time, setting a new historical high. As of 12:10 noon, the BTC price reported 120,538 US dollars, an increase of 2.42% within 24 hours. #BTC突破12万大关

The reasons for BTC's price breaking through the 120,000 mark are mainly as follows:

1. Strong momentum after market consolidation: The market has undergone sufficient consolidation, accumulating strong upward momentum, making it highly probable to break through key resistance levels.

2. Sufficient buying power: Long-term holders dominate the market, with a high degree of chip locking, resulting in low selling pressure, providing solid support for the price.

3. Policy factors boost: Recent expectations of the implementation of virtual currency-related policies in multiple regions around the world have boosted market confidence and attracted more capital inflows. Meanwhile, the signing of the "Too Big to Fail" bill has stimulated global investors' enthusiasm for risk assets. As a representative asset with high risk and high return, BTC has attracted significant capital interest.

The above is my personal opinion and is for reference only.

In addition, some institutions predict that BTC will reach 200,000 US dollars per coin by the end of the year. However, some analysts remind that while the overall market trend is mainly bullish, historical new highs usually do not form a top immediately. The formation of a top requires a long period of adjustment and confirmation, and investors should remain rational and cautious. $BTC