$BTC
- Bitcoin rose above $120,000 in Asian trading on Friday but lost most of those gains in the following hours.
However, the largest cryptocurrency in the world is heading towards achieving weekly gains for the fourth consecutive week, and altcoins surged sharply after the U.S. House of Representatives passed three bills aimed at creating a better regulatory framework for cryptocurrencies.
Bitcoin rose by 0.3% to $118,760 at 16:57 Saudi time.
The currency had risen to record levels above $123,000 at the beginning of the week. However, profit-taking at record levels and concerns about the final approval of cryptocurrency bills have led to a reduction in gains.
