Summary
Bitcoin has surpassed $50,000 per coin for the first time since December 2021. The cryptocurrency has seen a 15% increase in the past seven days and a 16% increase over the past month. The rise is attributed to big investors hoarding the cryptocurrency and renewed interest from Wall Street. The approval of exchange-traded funds (ETFs) in January initially caused a dip in Bitcoin’s price, but that pressure has eased and money is flowing back into the space. Bitcoin’s all-time high was $69,044 in November 2021, and analysts believe it may make another big climb ahead of the Bitcoin halving in April.
Key Points
1. The price of Bitcoin (BTC) has surpassed $50,000 per coin for the first time since December 2021. This marks a significant increase from its price of less than $22,000 a year ago.
2. Coinbase data confirms that Bitcoin reached the $50,000 mark at 11 a.m. Eastern Time on Monday. The largest digital asset by market cap has seen a rise of over 15% in the past seven days and 16% in the past month.
3. The recent surge in BTC’s price is attributed to big investors hoarding the cryptocurrency and renewed interest from Wall Street in the tech industry. Analysts have also pointed out that onchain data suggests Bitcoin may experience a significant climb in the near future.