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BCH $524.90 (-4.8%)
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BNB $361.50 (-3.3%)
ADA $2.11 (-2.1%)
DOGE $0.21 (-1.2%)

Bitcoin Hits $50K ATH on Coinbase and Bybit Crypto Exchanges

Bitcoin Hits $50K ATH on Coinbase and Bybit Crypto Exchanges
  • Bitcoin price reached a new all-time high at $50,000.
  • The $50K BTC was recorded on both Coinbase and Bybit crypto exchanges.
  • Twitter users found the launch of the SpaceX rocket as a symbolic parallel to Bitcoin’s new ATH.

Bitcoin price increased drastically to set a new all time high at $50,000 on Monday. According to Forbes, the $50K BTC was recorded on Coinbase and Bybit crypto exchanges.

Consequently, Bitcoin soared to about $50,110 via the Coinbase exchange. Following Coinbase,  Bybit also recorded Bitcoin at $50,240 respectively. On the same day, the BTC price suddenly dropped back.

However, this represents the first time in history that Bitcoin has surged to $50,000.

Amid the BTC upward surge, some Twitter users found the launch of the SpaceX rocket at the same time as the ATH to be symbolic. Due to the rocket launch, many believe that the SpaceX company may have influenced the Bitcoin price spike.

 In support, CoinShares Investment Strategist James Butterfill said,

Bitcoin saw inflows of $367 million as the trend of announcements by large corporations and funds using Bitcoin as a treasury asset and investment continues.

As brought by the new BTC all time high, many users expressed a burst of excitement towards the $50K milestone achievement.

According to CoinGecko, Bitcoin’s price is now at $48,989.52. It holds a 24-hour trading volume of $57.3 billion at the time of writing. Based on the current BTC price, there is a prediction that it could soon reach $50,000 in value again.

Collins Adane is a writer who follows the crypto industry closely. He loves fish stew and Real Madrid. He believes in cryptocurrency’s potential to transform the money landscape in his native country Ghana.