Bitcoin breaches $120k for first time

(Sharecast News) - Bitcoin on Monday climbed to a new record high breaching the $120,000 mark.

The world's largest crypto currency was trading at $121,802 at 0741 BST.

Ipek Ozkardeskaya, senior analyst at Swissquote Bank, said bitcoin was "now back in overbought territory, suggesting that a correction to the $105K-$110K range wouldn't be surprising".

"Still, the rally is underpinned by a crypto-friendly US policy shift and growing emerging market adoption - both remain intact."

Reporting by Frank Prenesti for Sharecast.com