Big Breaking: The price of Bitcoin (BTC) reached $50,000 on Monday, the highest in the last two years.
Washington:
The price of Bitcoin (BTC) reached $50,000 on Monday for the first time in more than two years and is the largest cryptocurrency.
The stock is buoyed by expectations of a cut in interest rates later this year and last month’s regulatory approval for US exchange-traded funds designed to track its price.
The cryptocurrency is up about 16.3% this year, hitting its highest level since Dec. 27, 2021, on Monday. At 11:31 a.m. EST (1731 GMT), Bitcoin was at $50,196, up 5.58% on the day.
“$50,000 is an important milestone for Bitcoin after the launch of the spot ETF last month, which not only failed to break above this key psychological level but suffered a 20% selloff,” said Antoni Trenchev, co-founder of the crypto lending platform. ” Nexo.
Bitcoin is trading at an all-time high of $50,177.60 today.
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