Bitcoin witnessed an increase during trading on Friday, coming close to its all-time high, as traders bet on a resurgence of interest in riskier assets amid the repercussions of the U.S. government shutdown.
The price of Bitcoin rose by 1.35% to reach $122,501.92 at 08:21 PM Mecca time, bringing it closer to the record level of $124,514 set on August 14.
Earlier in the day, the leading cryptocurrency surpassed the $123,000 mark for the first time since August, supported by an increase in U.S. stocks and a rise in flows into related exchange-traded funds.
Investors, according to Bloomberg, expect the government shutdown that began on Wednesday to drive capital toward assets considered safe havens in response to the declining value of the dollar.
As for the performance of other cryptocurrencies, Ethereum remained stable at $4,504.08, while Ripple declined by 1.20% to reach $3.05.
