The price of Bitcoin just surpassed another milestone – the $50K, according to Bitstamp. This comes only five weeks after breaking $40K and six weeks following the $30K breakout.
Bitcoin is now recording a 72% return on investment in 2021 alone. The cryptocurrency has also delivered a 1200% ROI since recoding its 2020 low of $3,800 from March.
BTC/USD, chart by TradingViewThe price of BTC had a great year. Starting 2020 below $8,000, the cryptocurrency broke $13K only in the middle of October, following the exciting news from PayPal.It was back then when the parabolic move of 2020 – 2021 started. Just two months after, and Bitcoin broke its previous all-time high of $20K, and from there, the primary cryptocurrency took the spaceship to the moon.On the second day of 2021, Bitcoin left $30K behind. It then took only five days, and on January 7, 2021, BTC broke $40,000 to a new all-time high set on January 8th at $42K. After that, Bitcoin charted a 30% correction to retest the levels below $30K. This kind of correction was typical during the 2017 bull market.Last Monday, the giant announced a Bitcoin purchase worth $1.5 billion in January. The cryptocurrency immediately spiked above the January 8 ATH at $42K, recording its largest-ever daily candle.It’s interesting to note that the increase in Bitcoin’s price over the last couple of months has driven the entire market upwards.Major altcoins have charted serious gains as the total market capitalization now sits at above $1.5 trillion. Title: Bitcoin Price Breaks $50,000 For The First Time In History
Sourced From: cryptopotato.com/bitcoin-price-breaks-50000-for-the-first-time-in-history/
Published Date: Tue, 16 Feb 2021 13:33:20 +0000