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Bitcoin surpasses $ 50,000 for the first time since May

August 23, 2021 | 8:11 am

The price of the bitcoin It surpassed the $ 50,000 barrier on Monday for the first time since May, amid renewed investor interest in the cryptocurrency.

According to Investing.com, the unit rose 2.8% to $ 50,281, at 7:40 am (Mexico City time), after hitting a three-month high, when it began to depreciate due to a series of issues such as Chinese control about the cryptocurrencies and the decision of the CEO of Tesla, Elon musk, to stop accepting it due to the environmental impact of the mining of these currencies.

Nonetheless, the electric vehicle company subsequently signaled its support for the world’s most popular cryptocurrency, while other high-profile investors such as the founder of Twitter, Jack dorsey, they also expressed interest.

Price now boosted by online payments giant’s announcement Paypal which extended its cryptocurrency buying and selling service to the UK, a clear sign of growing demand, according to Timo Emden, an independent analyst.

And the announcement last week of [la plataforma] Coinbase, which will invest $ 500 million of its treasury in cryptocurrencies, participated in the market excitement

added Neil Wilson, analyst at Markets.com

Bitcoin is up more than 70% since June, when it traded at $ 29,000, and speculation is that could keep climbing towards $ 100,000 and even above that barrier.

Rick Bensignor of Bensignor Investment Strategies estimated Monday that it “is approaching the highest point of … its new exchange range” of between $ 40,000 and $ 50,000.

However, bitcoin remains far from its all-time high of nearly $ 65,000 that it reached in April of this year.

The market recovery since bitcoin traded below $ 30,000 in May raised the value of the universe cryptographic to $ 2.2 trillion, up from $ 1.2 trillion last month.

Bitcoin is not the only digital currency that has regained ground, as other assets such as ethereum, dogecoin, XRP and cardano accumulate gains greater than those of bitcoin between June and August.

With information from AFP

Tammy Sewell is our Writer and Social at OICanadian.com. Tammy loves sports, she writes our celebrities news. She spends time browsing through several celebs news sources as well the Instagram. Email: Tammy@oicanadian.com Phone: +1 513-209-1700

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