Bitcoin Makes History With $50,000 All-Time High

Key Takeaways

  • Bitcoin just crossed $50,000 for the first time. Its market cap is just short of $1 trillion.
  • Along with Ethereum, Bitcoin has outperformed every traditional asset year-to-date.
  • Bitcoin is now the sixth biggest asset in the world by market cap.

The Bitcoin rally continues. It’s just crossed $50,000 for the first time.

Bitcoin Breaks $50,000

Bitcoin is trading above $50,000.

The original cryptocurrency broke $25,000 for the first time on December 26 2020, meaning it’s doubled in price in less than two months.

Recent weeks have been particularly bullish for the digital asset.



















On Feb. 8, Bitcoin sliced through its previous high of $42,000 after Tesla revealed it had made a $1.5 billion investment in the asset. The price jumped over 9% in the hour following the news. Many crypto enthusiasts then identified $50,000 as a key psychological benchmark.

Some have said that the leading crypto could be headed for six digits in the future. JP Morgan’s analysts recently targeted a price of $146,000 for the asset, while Citibank projected $300,000. The investment bank pointed to the cryptocurrency’s “digital gold” strengthening narrative alongside the U.S. dollar’s devaluation. 









The market is filled with optimism at the moment. Nonetheless, risk management is key. Cryptocurrencies are known for their price volatility. In the 2017 market cycle, Bitcoin experienced several dips before topping out at around $19,600. It then retraced 65% in less than seven weeks. 

Along with Ethereum, the leading crypto has historically outperformed traditional assets like the NASDAQ index and gold by a significant margin. Ethereum leads year-to-date gains at 151%, with Bitcoin following at 67%. Meanwhile, the NASDAQ index is up only 7.44%, and gold logs negative returns of 6.39%.

With Bitcoin at $50,000,  the market capitalization crossed $930 billion. It’s now the sixth biggest asset in the world, according to AssetDash, trailing a handful of giants like Apple and Amazon. At Bitcoin’s current supply, the market cap would hit $1 trillion when the asset breaches $53,700.

Disclosure: This author held Bitcoin at the time of press. 

The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

See full terms and conditions.

Source: Read Full Article

click fraud detection