Bitcoin is back: crypto-coin cracks important 50,000 dollar mark
Bitcoin back over $ 50,000. (Image: Jaruwan Jaiyangyuen / shutterstock)
On Tuesday lunchtime, Bitcoin broke the important $ 50,000 mark. At nearly $ 50,300, it hit its highest level in more than a month.
Last Friday, Bitcoin jumped around $ 3,000 in 20 minutes. These are said to have been the effects of a so-called short squeeze. However, the most valuable coin in the world has been able to hold its own at this level since then.
The ascent does not come as a complete surprise. A number of industry observers had predicted significant price increases in the past few weeks. The hashtag was on Twitter #Uptober established for an October that should see upward movements in cryptocurrencies. In a survey among its most active traders, the Canadian crypto broker Voyager Digital unanimously heard that, despite the emerging regulatory adversities, investor confidence in the crypto market is not only unbroken, but is increasing from quarter to quarter.
Bitcoin with a stable upward trend. (Screenshot: t3n / Coinmarketcap)
The recent rise in Bitcoin on Tuesday morning is no real surprise. At most, it is noticeable that the upward movement began at the same time as on Friday. However, we can rule out a jump of $ 3,000 this time. The peak was already reached at $ 50,297. Bitcoin is currently hovering around $ 50,200 with a slight downward trend.
That is a shame, because it could slow down the momentum that has just emerged. Staying stable above the 50k limit would be an important prerequisite for reconsidering the multi-month high of $ 52,853, which was last reached in early September – not to mention the all-time high of $ 64,863 in mid-April.
In any case, Bitcoin has gained around 5.3 percent within 24 hours. This brings him to a seven-day increase of quite a smooth 20 percent. The trading volume in the past 24 hours was around a third higher than the day before. The bitcoin bulls are pulling.
The other important coins are also rising in the Bitcoin fairway. Ethereum was also able to gain a good 19 percent within seven days, the Binance Coin even more than 30 and Solana around 27 percent. Only Cardano is weak. With a plus of almost six percent in seven days, the ADA cannot keep up and loses its position in the top 3, which the Binance Coin now holds again.
