Bitcoin exceeds $ 50,000 for the first time since early May

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The price of bitcoin topped the $ 50,000 level on Sunday night as the world’s largest cryptocurrency continues to rebound after its collapse three months ago.

After flirting slightly above and below the $ 50,000 mark on Sunday night, bitcoin BTCUSD, + 3.54%, hit $ 50,190 at 10:53 pm, according to data from Coindesk; it hasn’t exceeded $ 50,000 since early May. It peaked at nearly $ 65,000 in April, then lost more than half of its value between mid-May and the end of June.

While $ 50,000 is a good round number, it’s the $ 51,000 mark that analysts have defined as its next big hurdle, Katie Stockton, technical strategist at Fairlead Strategies, told MarketWatch earlier this month.

Bitcoin has jumped 12% in the past five days and 47% in the past month, with a market cap of around $ 939 billion on Sunday night. It was below the $ 30,000 level on July 20, but it’s still up 73% year-to-date.

The broader crypto space has also seen recent gains: Ether ETHUSD, + 5.10%, which runs on the ethereum blockchain, jumped more than 4% on Sunday, according to Kraken data, and gained 52% in over the past month since a similar plunge in late May. Dogecoin DOGEUSD, + 3.53% jumped 63% over the past month, according to Kraken, still less than half of its all-time high of $ 70 cents in early May.

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