September 17, 2021

The Tampa Herald

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Bitcoin price exceeded $ 50,000

1 min read

For the first time in three months, the price of bitcoin surpassed $ 50,000, amid renewed investor interest in the cryptocurrency.

The unit rose 4% to $ 50,350, the highest level since May, when it began to depreciate on a series of issues such as Chinese control over cryptocurrencies and the decision of Elon Musk, head of Tesla, to stop accepting it due to the impact. environmental mining of these currencies.

The electric vehicle giant later signaled his support for bitcoin, while other high-profile investors, such as Twitter founder Jack Dorsey, also expressed interest.

Its listing is now being boosted by an announcement by online payments giant Paypal “that has extended its cryptocurrency buying and selling service to the UK,” “a clear sign of growing demand,” according to independent analyst Timo Emden.

“And the announcement last week by [the platform] Coinbase, that it will invest $ 500 million of its treasury in cryptocurrencies, was part of the market excitement,” added Neil Wilson, an analyst at Markets.com.

Bitcoin has risen more than 70% since June, when it traded at $ 29,000, and speculation is that it could continue to climb toward $ 100,000.

Rick Bensignor of Bensignor Investment Strategies estimated that he is approaching the high point of his new trading range, between $ 40,000 and $ 50,000. However, bitcoin remains far from its all-time high of nearly $ 65,000 in April.

 

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