Advertisement
AD

Main navigation

Bitcoin Recaptures $50,000 After Declining for Over Week

Advertisement
Thu, 2/09/2021 - 7:18
Bitcoin Recaptures $50,000 After Declining for Over Week
Cover image via stock.adobe.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News

The flagship cryptocurrency is now back above the $50,000 price mark after losing it on Aug. 23 and hitting lows at $46,000 and $47,000 several times.

Advertisement

card

At the moment, BTC is changing hands at $50,131 on the Kraken exchange. Now, Bitcoin is down 22.72% from its all-time high of $64,863 reached on April 14.

Article image
Image via TradingView

Since Sept. 1, Bitcoin has shown more than 5% growth from the $47,670 level to over $50,000 by now.

The Bitcoin hashrate has been recovering recently at a fast pace as miners forced to leave China earlier this year have resumed operations in other locations. As per data from the CryptoQuant data vendor, miners have been purchasing mining gear since June, which proves they may have been expecting the Bitcoin price to rise and hold well above the $48,000 level soon enough.

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles

Advertisement
AD