Analysis: Market focus on US "Crypto Week" legislation drives Bitcoin price up

Odaily Planet Daily News: Data from the London Stock Exchange Group shows that the price of Bitcoin has turned positive. The cryptocurrency soared to an all-time high of $123,153 on Monday, and then fell back due to profit-taking. However, cryptocurrency investors are paying attention to possible legislation related to the regulation of crypto assets in the United States. In this week known as "Crypto Week", the U.S. House of Representatives will consider three bills aimed at comprehensively reforming U.S. cryptocurrency policies. Josh, an analyst at TPICAP's digital assets department, said in a report that this could pave the way for more institutional adoption of cryptocurrencies and drive Bitcoin to rise further. She said: "Bitcoin's role as 'digital gold' in investment portfolios is becoming increasingly important." (Jinshi)