Connect with us

Hi, what are you looking for?


Crypto Currency: Bitcoin Jumps Above $50,000 for First Time Since May

This is the first time in three months Bitcoin is reaching such a height. Bitcoin has surpassed all odds to climb above $50,000 on Monday.

This is the first time in three months Bitcoin is reaching such a height.

The unit climbed around two percent to $50,249.15, its highest since mid-May, when it began tumbling on a range of issues including China’s crackdown on cryptocurrencies and Tesla boss Elon Musk’s decision to stop accepting it on concerns about the environmental impact of mining.

The electric car giant has since indicated its support for bitcoin, while several other high-profile investors including Twitter founder Jack Dorsey have also flagged their interest.

It has now risen more than 70 percent from the six-month lows below $29,000 touched in June, and speculation is swirling that it could begin its push towards $100,000.

Rick Bensignor, at Bensignor Investment Strategies, said Monday that it was “getting nearer the higher end of what I expect as a new trading range in the low-$40,000s to low-$50,000s”.

Advertisement. Scroll to continue reading.

Bitcoin is still for now a long way off its record just below $65,000 that it achieved in April.

Click to comment

Leave a Reply

Your email address will not be published.

You May Also Like


The CBN ordered banks and financial institutions to block bank accounts trading in cryptocurrency, stressing that failure to comply to the directive attracts severe...


Taking to his Twitter page, the singer posted that he is seriously contemplating starting a Bitcoin company. Davido Popular Nigerian artiste, Davido has revealed...


For the first time ever, Bitcoin has crossed $30,000 bringing more attention to the cryptocurrency world. The most popular virtual currency in the world...

Sponsored Post

Bitcoin futures are another type of financial instrument where a trader agrees to buy or sell an asset, in this case, Bitcoin, at a...


Log In

Forgot password?

Forgot password?

Enter your account data and we will send you a link to reset your password.

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

Add to Collection

No Collections

Here you'll find all collections you've created before.