August 12, 2022

Bitcoin hits $50,000 a new historic milestone for BTC price

1200 aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDIvZWViODI2N2ItMmEyMC00NzRlLWIwNDgtZTZmNzQ2OTk0ZTE5LmpwZWc

Bitcoin (BTC) surged to new all-time highs on Feb. 16 following a week of bullish news including Tesla accepting BTC and MicroStrategy planning to raise another $600 million to buy Bitcoin.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView

BTC price breaks historical record

Data from Cointelegraph Markets and TradingView showed BTC/USD climb over 5% in hours on Tuesday days after BNY Mellon confirmed that it would store crypto for asset management clients and rumors also swirled around Morgan Stanley. 

The move put Bitcoin on course to hit the psychologically significant $50,000 mark once again after several days of sideways movement as a tussle between whales emerged.

Bulls had initially taken control of BTC after Tesla’s $1.5 billion Bitcoin buy-in which it revealed on Feb. 8. At the same time, the European Central Bank was among the naysayers who claimed that central banks as a whole would not interact with Bitcoin in future.

More headaches for bears

In an update, analysts at derivatives platform Deribit notedTitle: Bitcoin hits $50,000 a new historic milestone for BTC price
Sourced From:
Published Date: Tue, 16 Feb 2021 12:29:45 +0000