Bitcoin approaches $ 50,000 USD, signaling a rebound

[ad_1]

Bitcoin approached US $ 50,000 per coin on Saturday, a promising sign after experiencing significant declines in July.

Bitcoin hit a 24-hour high of US $ 49,494 before falling slightly on Sunday, according to Coindesk. On Sunday afternoon EDT, Bitcoin was hovering around $ 48,000.

Other cryptocurrencies, including Ether linked to Ethereum, also made gains on Saturday.

Since hitting a record high of nearly $ 65,000 in April, Bitcoin has averaged between $ 30,000 and $ 40,000 per coin in recent months, although it has seen a steady increase in August.

Earlier this week, the popular no-fee trading app Robinhood released its second quarter 2021 results, noting that over 60% of its cumulative net funded accounts were traded in crypto.

According to the statement, Robinhood said its clients have engaged with crypto at record levels and have shown significant interest in cryptocurrencies.

Additionally, Bitcoin has recently been touted by celebrities including Megan Thee Stallion and Jack Dorsey, who announced this week that they are trying their hand at mining Bitcoin.

In other crypto news, check out this week’s business and crypto summary.

[ad_2]