Bitcoin price: Bitcoin hits $50,000 for first time in four weeks – The Economic Times

Clipped from: https://economictimes.indiatimes.com/markets/cryptocurrency/bitcoin-hits-50000-for-first-time-in-four-weeks/articleshow/86781973.cmsSynopsis

The cryptocurrency fell below that level on September 7 amid a broader selloff in shares of cryptocurrency and blockchain related firms that day. It continued to fall in September, hitting a low of $40,596 on September 21.

LONDON: Bitcoin, the world’s biggest cryptocurrency by market value, rose above the $50,000 mark for the first time in four weeks on Tuesday, adding to a series of gains since the start of October.

The cryptocurrency fell below that level on September 7 amid a broader selloff in shares of cryptocurrency and blockchain related firms that day. It continued to fall in September, hitting a low of $40,596 on September 21.

On Tuesday, Bitcoin rose as much as 2.35 per cent to hit $50,398.10.

Cryptocurrency investment products and funds recorded inflows for a seventh straight week, as institutional investors warmed to more supportive statements from regulators, data from digital asset manager CoinShares showed on Monday.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s