PANews reported on July 14 that according to Jinshi, Tickmill analyst Patrick Munnelly said in a report that Bitcoin broke through $120,000 for the first time, and its upward momentum came from the growing confidence of investors after the cryptocurrency moved out of the recent narrow trading range. He said that the previous trading range had raised questions about whether Bitcoin could regain its strong upward momentum earlier this year. The uncertainty of Trump's political and economic policies has suppressed the market's enthusiasm for Bitcoin investment, keeping it in this range. Now, as other risky assets such as stocks have hit record highs, Bitcoin has also resumed its upward trajectory, rekindling market enthusiasm.