2024-02-19 08:07:53
Bitcoin has reached $50,000 for the first time in more than two years, and investors are predicting new all-time highs, according to data from the CoinGecko portal.
The main cryptocurrency has risen and 16.3% so far this year and on Monday it reached its highest level since December 27, 2021.
In this context, investors expect the price of the cryptocurrency to reach the all-time high of $69,800last seen on November 8, 2021, collects Cointelegraph.
“$50,000 is an important milestone for Bitcoin after the launch of spot exchange-traded funds (ETFs) last month not only failed to overcome this key psychological level, but caused a 20% sell-off,” said Antoni Trenchev, co-founder of the platform. of Nexo cryptocurrency loans.
The end of ‘crypto winter’?
Meanwhile, the main cryptocurrency tracking portals point out that ‘crypto winter’ seems to be coming to an end, with signs of recovery in the price of bitcoin during 2023.
According to Coindesk, the year 2022 was a disaster” due to the implosion of the Terra ecosystem and the disintegration of the FTX crypto exchange platform, among other notable industry collapses. Bitcoin closed the year slightly above $16,000, a 75% drop from its all-time high.
2023, on the contrary, will be remembered as a period of great boom for cryptocurrencies, even though Bitcoin’s price action was quite disappointing for much of the year, the outlet indicates. The price of bitcoin increased almost 60% in the last three months 2023, closing the year above $42,000.
By: RT