Bitcoin crossed the $50 thousand mark for the first time since December 2021
On February 12, the bitcoin rate exceeded $50 thousand. As of 19:35, the price of bitcoin was $50.29 per (BTC/USD) with a current USD market capitalization of $978.77B.
According to the Binance crypto exchange, the price of bitcoin has risen sharply by almost $1,000 over the past hour.
As of now, the price of bitcoin is $50,093.
The price of Bitcoin has increased by +3.69% over the past 24 hours, and the amount of cryptocurrency in circulation is 19.63M.
Other assets from the top 10 by capitalization also entered the green zone. For example, Ethereum is trading at more than $2500, Vlockchair writes.
Crypto analyst Patrick Scott noted that retail traders are still “not paying attention” to bitcoin, despite reaching $49,000.
“As soon as the rate exceeds $50,000, expect many people who have written off cryptocurrency from their accounts to start coming back,” he added.
CoinShares reported a weekly inflow of $1.1 billion in cryptocurrency investment products. The volume of assets under management reached the highest level since the beginning of 2022 – $59 billion.
In a conversation with CoinDesk, macro analyst Noelle Acheson said that bitcoin is currently benefiting from increased savings. The main reason for this is “the expectation of capital injections into China to stop the collapse of its stock market and the inevitable depreciation of the currency even in developed countries in the future.”
On January 8, as of 19:12, bitcoin (BTC) reached a 20-month high and exceeded 47,208 thousand. USD. In just an hour, the cryptocurrency rose by more than $1,000. This growth is largely due to the excitement surrounding the expected approval of exchange-traded funds (ETFs) by financial giants such as BlackRock and Grayscale.
