Bitcoin extends rally, hits record high above $124,000

1. Bitcoin reached $124,496, its highest price ever recorded. 2. Bitcoin is up 33% year-to-date and 120% in the past year. 3. Looser regulations and institutional adoption boost Bitcoin's price. 4. Positive sentiment around Bitcoin's upcoming halving event adds to bullish outlook. 5. Surging Bitcoin prices also benefit newly public cryptocurrency companies.