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Reading: For the first time since 2021, bitcoin reaches $50,000.
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Baner Club > Blog > Business > For the first time since 2021, bitcoin reaches $50,000.
Business

For the first time since 2021, bitcoin reaches $50,000.

For the first time since December 2021, Bitcoin has surged back above $50,000, after a broader upswing in US stocks.

Last updated: 2024/02/13 at 8:06 AM
Published February 13, 2024
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The current price of bitcoin has been erratic as usual this year, but analysts say a number of reasons have contributed to its recent recovery and think the impending “halving” event may provide even more support.

The biggest cryptocurrency in the world, which reached one-month highs last Friday, continued to gain traction on Monday, increasing by about 5%.

Comparators with comparable percentage moves included Ether.

Analysts attributed the recent advances in cryptocurrencies to a number of factors, stating that increased expectations of interest rate reduction by central banks were helping to boost market mood overall.

Earlier in the day, the S&P 500 and Dow Jones Industrial Average recorded intraday highs, supported by the expectation of lower borrowing costs in the future.

The tech-heavy Nasdaq came close to surpassing its all-time high.
The establishment of 11 exchange-traded funds (ETFs) last month received support from US regulators, which helped Bitcoin rebound from a flurry of scandals that included the FTX exchange’s fraudulent bankruptcy.

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admin February 13, 2024 February 13, 2024
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