Bitcoin Just Surpassed $50,00, But Will These Latest Gains Last?

Bitcoin Just Surpassed $50,00, But Will These Latest Gains Last?

This is a BETA experience. You may opt-out by Bitcoin prices rose above $50, 000 after their recent sell-off. After experiencing a rough weekend where bitcoin prices suffered a notable sell-off, the digital currency has bounced back, surpassing $50, 000 late this afternoon. Now that the prominent cryptocurrency has risen above this level, technical analysts and market observers are watching and waiting to see whether it will establish support there. The digital asset climbed above $50, 000 around 4:45 p. m. EST, CoinDesk data shows. After breaking through this price level, bitcoin rose to $50, 580, before falling back to roughly $49, 970 slightly before 5 p. m. EST, additional CoinDesk figures reveal. [Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.] The cryptocurrency once again rose above $50, 000, reaching as much as $50, 965. 03 close to 6 p. m. EST. Following these price movements, several analysts weighed in on the implications of these latest developments. "Reclaiming $50, 000 is great for Bitcoin's prospects of resuming bullish price action," said Joe DiPasquale, CEO of cryptocurrency hedge fund manager BitBull Capital.