Bitcoin price today: Bitcoin U-turns to reach $ 50,000
- Bitcoin costs close to $ 50,000
- On Saturday, it was trading at 49,704.
- This is its highest level since May 16, 3 months later.
- The price hit an all-time high of 65 65,000 in April
There is good news for investors in Bitcoin, the world’s largest, most popular and oldest cryptocurrency. Its price is once again rising rapidly. The price of Bitcoin has reached close to $ 50,000. On Saturday, it was trading in New York at 49,704, the highest level since May 16. Its price hit an all-time high of 65,000 in mid-April.
The next big challenge for Bitcoin is to reach and stay in the 50,000 area, said Konstantin Anisimov, executive director of the crypto exchange CEX.IO. The recent rise in its prices does not show any big jump. If a new buyer joins, it could go as high as 50,000. In the medium term, its price could reach 55,000.
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Global crypto adoption grew by about 881 percent
In mid-April, the price of Bitcoin reached close to $ 65,000. But then it dropped significantly and for the past several weeks it has been trading between $ 30,000 and $ 40,000. Despite this, its price has increased significantly in the last one year. Institutional investors and big names like Paul Tudor Jones and Stan Druckenmiller pushed up Bitcoin prices. According to Chainalysis, global crypto adoption has grown by about 881 percent in the last 12 months.
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