Bitcoin rose to over $120,000 on Monday, breaking the cryptocurrency’s all-time high as Congress considers several pieces of pro-crypto legislation. The digital currency peaked at around $122,600 mid-afternoon Monday before declining to around $116,

As the U.S. government mulls over the future of crypto regulation during its self-proclaimed “crypto week,” investors are also looking toward a potentially bright future for cryptocurrencies — through their portfolios.

Bitcoin hit another record on Monday, marking another milestone for the world's largest cryptocurrency as investors bet on long-sought policy wins.

Bullish tailwinds have boosted the world's largest cryptocurrency in the last week. The token's price broke above $120,000 for the first time on Monday.

The third and final piece of the puzzle is market sentiment. This has the power to move markets up or down extremely quickly. Right now, investors are buoyant. Equity markets are at all-time highs, Bitcoin is at an all-time high, and Nvidia just became the first company to hit a $4 trillion market valuation.

The enthusiasm for bitcoin comes as the U.S. House is set to take up several pieces of cryptocurrency-related legislation in what’s been dubbed “crypto week” in Congress. Lawmakers have been under pressure from President Donald Trump and the big-spending crypto lobby to pass legislation quickly.

The Bitcoin price, XRP, Ethereum, and other cryptos were falling as the weeklong rally for the world’s largest coin ebbed out.

There are several reasons Bitcoin could reach even greater heights over the second half of the year. Here's why.