$BNB Bitcoin (BTC) investors, the leading cryptocurrency, have had a very good week. At the time of this publication, the token's value has risen by more than 8% in the last seven days and more than 6% in just the last 24 hours.

The digital asset is now on the verge of reaching the psychological threshold of 120,000 dollars, which would mark an all-time high. This is a possible reason behind the recent spikes in bitcoin.

Bitcoin's rise to 120,000 dollars

Currently, BTC is trading above 118,000 dollars per unit, after having reached a previous record of 118,780 dollars.