Bitcoin Continues Amazing Run as it Crosses $50,000 for the First Time Since May

• Flagship cryptocurrency Bitcoin jumped above $50,000 on Monday morning, the first time that the cryptocurrency will reach this milestone since May

• The world’s number one crypto asset had been struggling to break past $40,000 since the government crackdown and environmental concerns caused a rapid fall in May

• BTC is now up by more than 70% since touching $29,000 in June but it remains some way from its all-time high of $64,000

Bitcoin climbed above $50,000 on Monday morning, the first time that this milestone will be reached since May this year.

The flagship cryptocurrency increased by 2 per cent, climbing to $50,249 on the back of investors buying into the cryptocurrency at a bargain.

Its been a turbulent past few months for the cryptocurrency which lost more than 50% of its value after reaching an all-time high of $64,000 in April.

The world’s largest cryptocurrency was hugely affected by news of the crackdown in China and concerns about its environmental impact.

There has been a spectacular turnaround since June ending when Tesla CEO Elon Musk and Twitter boss Jack Dorsey showed support for the coin.

Many crypto experts have predicted that bitcoin could continue to ride on its amazing run and go as high as $100,000.

Read also: South African Man Loses Password to $1 Million Worth of BTC

Meanwhile, several altcoins managed to follow Bitcoin’s movement, adding to their value in the process.

Binance coin was among the biggest gainers, adding 10% to move to $504.

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