Bitcoin explodes, reaching $117,600 for the first time in its history.

Bitcoin , the most well-known and traded cryptocurrency on the market, reached a new all-time high on Friday, surpassing $117,600 , an increase of more than 3%.

According to Bloomberg data collected by EFE, at 7:30 a.m. (5:30 a.m. GMT) , Bitcoin stood at $117,665 , up more than 3.58% and setting a new record.

Bitcoin has reached its highest level since last Wednesday, when it surpassed $112,000 , amid renewed trade tensions.

Likewise, analyst Manuel Pinto explains that cryptocurrency is breaking records thanks to growing demand, debt, greater deregulation in the sector, and the success of industry companies on Wall Street.

At Bitpanda , its experts assure that the arrival of new highs is not a coincidence, and that they are driven by " a perfect combination of favorable macroeconomic conditions and a constant growth in institutional interest."

As liquidity returns to the market and the money supply increases in both Europe and the United States , investors are looking for assets with real potential, and bitcoin is increasingly seen as one of them, they add.

"We're seeing growing retail demand, supported by strong inflows into ETFs and continued institutional adoption . Everything points to Bitcoin 's role as a mainstream asset being more established than ever," they conclude.