Early this morning the Bitcoin price broke $50,000 again, the highest price seen since Bitcoin’s correction in May.
- Author:
- Alex McShane[1]
- Publish date:
Early this morning the Bitcoin price broke $50,000 again, the highest price seen since Bitcoin’s correction in May.
Early this morning the Bitcoin price broke $50,000 again, as it did on August 23rd, which was then the highest price seen since Bitcoin’s correction in May. After the dip, the Bitcoin price hovered between 30-40k for most of the summer.
Although it’s impossible to say for certain, many are projecting the price to significantly appreciate from here to close out the year. Recall that just one year ago today, the Bitcoin price was sitting at around $10,174.
In 2017 the Bitcoin price went from about $10,000 to $20,000 in eighteen days, achieving a blow off top all time high. Just last week investor Anthony Pompliano told CNBC, “It would not surprise me to see something crazy like that happen before the end of the year.”
Here is a review of the increasingly bullish news from the past month that led to this exciting price milestone:
- Your $1,200 stimulus check would be worth[2] around $9,000 today if you’d bought Bitcoin with it in April 2020.
- In late August it was uncovered that back in June, Blackrock, the world’s largest asset manager, [3]allocated over $382 million to shares of Marathon Digital Holdings & Riot Blockchain, becoming the second biggest investor in both.
- Coinbase announced[4] in late August that it has updated its investment policy to include a 10% quarterly income allocation in Bitcoin and other cryptocurrency and also committed to investing $500 million of its $4 billion in reserves into Bitcoin and crypto.
