Bitcoin bounced back above $50,000 on Tuesday morning, marking the latest price increase in a remarkable recovery for the crypto market.
After briefly falling below $30,000 in late July, the cryptocurrency is now just $14,000 away from its mid-April high.
Other major cryptocurrencies have mirrored the fate of bitcoin in recent weeks, with Ethereum (ether), Binance Coin and Dogecoin all rising 15-30 percent since this time last week.
The total crypto market is now valued at around $2.2 trillion – up from 15 percent since the beginning of October.
After a bad September, some analysts are predicting a strong end to 2021. A price prediction model, which proved remarkably accurate in August and September, puts bitcoin on track to reach six digits before Christmas, although there are some caveats.
We’ll have all the latest news, analysis and expert price predictions right here.
bitcoin explodes in front of facebook
Bitcoin’s latest price increase has pushed its market cap above Facebook.
During its record-breaking price rally earlier this year, bitcoin briefly bumped the market cap of silver, while the overall crypto market surpassed the full value of Apple, the world’s most valuable company.
It’s still a long, long way from gold, whose market cap is more than 10 times that of bitcoin. Some high-profile investors, such as Tim Draper, believe that bitcoin may eventually reach these heights, meaning that one bitcoin would be worth more than half a million dollars.
bitcoin price back above $50k
Bitcoin has finally surged above $50,000 after a day of continuous price gains. The cryptocurrency has crossed this milestone for the first time since early September, and it means that bitcoin is now up more than 18% since the beginning of October.
We’ve heard from some of the experts and analysts who offer their thoughts behind this latest price hike, as well as speculations about where it could go from here.
You can read the full story here.
Bitcoin price breaks $50k, surpasses Facebook’s market cap
BTC bounces back from the crippling crash that wiped out hundreds of billions from the crypto market
Hello and welcome…
To independent Live coverage of the crypto market. We’ll bring you all the latest news, updates and analysis from Bitcoin, Ethereum (Ether) and the rest of the cryptocurrency space.
Credit: www.independent.co.uk /