Bitcoin rises above $ 50000 for the first time in three months
Bitcoin rises above $ 50,000 for the first time in three months: Bitcoin prices were found after trading at around $ 30,000 to $ 40,000 for several weeks, after a record low of $ 65,000 in mid-April.
Bitcoin bounced back at more than $ 50,000 on Monday for the first time in three months as investors returned to cryptocurrency in the transaction. The largest digital currency market capitalization, peaked at $ 50,152.24, the highest level since mid-May, is up 2.5%.
According to CoinDesk, Ether, a coin linked to the ethereum blockchain and the second largest crypto, has risen to $ 3,261. Dogecoin, on the other hand, was trading at a low price of $ 0.31, down 0.8%. Other digital currencies such as Stellar, Uniswap, XRP, Litecoin, Cardano have also been trading in profits over the past 24 hours. Bitcoin is back after trading at about $ 30,000 to $ 40,000 for several weeks, after breaking a record close to $ 65,000 in mid-April. However, it increased significantly last year. Global crypto adoption grew by 880% between June 2020 and July 2021, according to the 2021 Global Crypto Adoption Index with blockchain data platform Chainalysis. India ranks second in terms of global crypto adoption after Vietnam, but ahead of countries like the US, UK, and China, according to the report.
Prior to the reversal a few weeks ago, the crypto industry was overwhelmed by the devastation in China and was concerned about the environmental impact of the energy needed to create coins and process transactions. Supporting comments from billionaire Elon Musk and Cathie Wood’s Ark Investment Management LLC helped the Bitcoin conference.
In other news, PayPal Holdings Inc will allow UK customers to buy, sell and hold bitcoin and other cryptocurrencies starting this week. The release, which marks the first international expansion of PayPal services for cryptocurrensets outside the United States, could encourage further acceptance of a new asset class, Reuters reports.
The total market value of cryptocurrensets was $ 2.17 trillion on Sunday, according to data from CoinGecko.com, an increase of 1.1% over the past 24 hours. The total amount helped in the last seven days is an 18% rally on Cardano and Binance Coin earning 11%, while Dogecoin is almost 9% on time and Solana 73%, CoinGecko prices have shown.