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BTC $44092.09 (4.52%)
ETH $3148.02 (9.97%)
USDT $1.00 (0.02%)
BCH $511.04 (0.71%)
BSV $130.95 (-1.9%)
LTC $153.35 (3.47%)
BNB $353.80 (3.71%)
ADA $2.24 (-0.0%)
DOGE $0.20 (1.08%)

Bitcoin Price Hits a New ATH of Over $50K

Bitcoin Price Hits a New ATH of Over $50K
  • Bitcoin breaks its record as it hits a new all-time high of over $50,000.
  • With this new price, the market cap of Bitcoin saw a huge rise reaching over $1 trillion.
  • According to analysts, BTC still has room to go higher before a more substantial correction occurs.

Bitcoin (BTC) hit its all-time high recently, passing over $48,000. However, today, BTC boosted its price to over $50,000, an ATH record-breaker. BTC has been rising since the end of last year.

According to experts and analysts, BTC still has room to go higher before a more substantial correction occurs.

In 2018, the currency’s value plunged sharply, and by December of that year, BTC was worth less than $5,000. Until this most recent rally, which started in October 2020, Bitcoin usually floated between $5,000 and $11,000. However, in the early days of 2021, the BTC price continued to surge, overtaking the amount of over $40,000.

Furthermore, since morning, the price of BTC jumped excitingly close to $50,000. Until finally, Bitcoin reached its new all-time high of $50,000 today.

BTC Uptrend position
BTC Uptrend position (Source: TradingView)

Based on the graph above, you can see that Bitcoin continues its incredible bull run. In the past few hours, it jumped between $44,000 to $48,000.

With this new price, the market cap of Bitcoin saw a significant rise, reaching 1 trillion dollars. This momentous change may be because of Tesla’s announcement in buying $1.5 billion worth of bitcoin on Monday.

Bitcoin investors, including money managers and top hedge funds, are betting the digital currency could reach $100,000 in a year.

Moreover, Brian Estes, chief investment officer at hedge fund Off the Chain Capital, states that going from $20,000 to $100,000 in one year is not a stretch.

Roland Guirdonan can be found writing, developing, and designing all sorts of content. Aside from his fascination with content creation, he is also passionate about blockchain and cryptocurrency developments.