Bitcoin tops $51,000, moving firmly higher for the first time in 2 weeks as it heads into the holiday

Bitcoin tops $51,000, moving firmly higher for the first time in 2 weeks as it heads into the holiday

Extended its gains above $50,000 on Friday, matching the upbeat tone in broader financial markets as investors shook off Omicron fears to kick off the holidays. Going into the last week of December, cryptocurrencies, like other risky assets, appear to be shaping up for a for a strong end to the year. Leading cryptocurrency bitcoin broke through $50,000 late Thursday, having been stuck below the psychological level for two weeks. It was trading 5% higher at $51,191 at last check Friday, according to Investors have faced a wall of worry this month over the impact of the Federal Reserve's decision to wind down support for the US economy and of the rapid spread of the Omicron coronavirus variant. These fears fed into the cryptocurrency market too, which weighed on prices for bitcoin and other coins. Analysts said crypto assets lost ground after the Fed's December meeting, where officials confirmed expectations they will in a bid to combat high inflation. But investors appear to be letting go of those concerns and turning back to riskier assets, such as stocks. On Thursday, the to end the trading week, as US equity markets are closed Friday for the holiday. Reflecting the mood, cryptocurrencies