Bitcoin Crosses $50,000 Yet Again

Bitcoin Crosses $50,000 Yet Again

Bitcoin Crosses $50,000 Yet Again

-Flagship cryptocurrency, Bitcoin has rallied back above $50,000 after last week’s drop

-Amid a high selling spree, the price of the digital currency dropped below $43,000 last week

-Other Cryptocurrencies that dropped last week such as ETH, Litecoin, and Binance Coin are also starting to recover

Bitcoin has rallied back above $50,000 as the cryptocurrency overcomes last week’s bearish run.

The digital currency has risen by 8% to $51,500, its highest level in over a week.

Bitcoin rises above $50,000

The cryptocurrency was highly volatile last week as prices plunged 21% before this recovery.

Read also: Elon Musk and Jeff Bezos tied for World’s richest man

BTC dipped 2.9% when a nominee for chairman of the U.S. Securities and Exchange Commission, Gary Gensler said that curbing fraud and manipulation in the crypto market is challenging for the agency.

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Gensler also had positive things to say about the crypto market. His administration plans to promote innovations in crypto and blockchain.

At the time of this report, Bitcoin is trading at $51,460 with a market capitalization of $957 billion.

The value of other cryptocurrencies are listed below

Use of Cryptocurrencies

Ethereum- $1609

Cardano- $1.24

Binance coin- $246

Litecoin- $189

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