Baxia Markets
September 03, 2021

Bitcoin Trades Around $50,000 Again

fundamental analysis top header -01


The world’s most prominent digital currency climbed to $50,352.00 around 3 a.m. EDT, CoinDesk figures show. Later, around 10 a.m. EDT, it reached $50,374.97, additional CoinDesk data shows. At this point, the cryptocurrency was trading at its loftiest value since May 15. Following these latest price moves, several analysts offered explanations for what caused the rally, as well as what bitcoin prices might do next.




Some experts pointed to information culled from the blockchain, which helped paint a bullish picture for bitcoin. “On-chain data shows that whales and long-term investors of all sizes have been accumulating in the range between $46,000 and $50,000,” said Sean Rooney, head of research at Valkyrie Investments. Bitcoin returning to $50K means investors are once again bullish on cryptocurrencies, but whether it continues will depend on a strong move above $50,000. With news and new information the main drivers for the market, any negative news could send it dramatically lower.


We love to hear new ideas from traders and want to know what you think! 


If you like this topic and want to suggest future topics that you find helpful, let us know by clicking the ‘submit your feedback’ button below.


Open Live Account  


Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. 


Nothing contained in this website should be construed as investment advice. Any reference to an investment's past or potential performance is not, and should not be construed as, a recommendation or as a guarantee of any specific outcome or profit. 

Subscribe by Email