Bitcoin hits US $ 50,000 as crypto rally continues

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Passing the key psychological milestone is seen as important as feelings become increasingly bullish for Bitcoin.

Bitcoin topped US $ 50,000 for the first time since May as crypto markets continue to recover.

Trading at US $ 50,154, Bitcoin is up just over 2% and has a total market cap of around US $ 942 billion.

Crossing the key psychological milestone is seen as important, as feelings grow increasingly bullish for Bitcoin, which had previously given up around half of its value amid a Chinese crackdown on crypto mining operations.

Commentators and trade informants see top crypto rallying more to challenge earlier this year’s highs around US $ 65,000 seen in April in the coming phase, particularly as institutional interest is said to have increased as Bitcoiners de retail have largely HODLD (Hold On for Dear Life) through the recent downturn.

Ethereum, the second largest crypto by value, is also up around 2% in early Monday trades changing hands to US $ 3,323, giving a total market value of US $ 389 billion.

Cardano is the biggest driver, among the most popular cryptos, as it continues to rise and expand its new heights. Priced at US $ 2.81, the so-called crypto is 7.24% higher for the day and rose 138% last month, down from around US $ 1.18.

Ripples XRP was up 4.8% to US $ 1.30 and Dogecoin added 2.56% to 32.79 US cents.

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