Bitcoin (BTC) has rebounded strongly over the past few days and is once again trading above $120,000 U.S.
The price of Bitcoin rose more than 5% over the weekend as individual retail investors flood back into digital assets. Crypto trades 24 hours a day, seven days a week.
Bitcoin gained 3.6% to trade as high as $121,988 U.S. on Aug. 10, before pulling back to trade at $120,150 U.S. early on Aug. 11.
BTC hit an all-time high of just over $123,000 U.S. in July of this year as mostly retail investors bid cryptocurrencies higher.
Bitcoin and other crypto are gaining after U.S. President Donald Trump signed an executive order that allows 401(k) retirement plans to hold digital assets for the first time.
According to the Investment Company Institute, 401(k) plans in America hold nearly $9 trillion U.S. in assets.
Other crypto such as Ethereum (ETH) and Solana (SOL) have also gotten a boost since Trump signed the executive order related to crypto, according to market data.
The latest rally is a reversal for Bitcoin, which slumped at the start of August and was trading below $115,000 U.S. in recent days.
BTC has now gained 29% on the year.
