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BTC Price Breaks Historical Record of $50,000

The leading cryptocurrency in terms of capitalization, Bitcoin (BTC) has crossed the $50,000 mark on Tuesday, February 16, setting a new record in the digital currency market.

The highest price was noted on the BitMEX exchange, where Bitcoin reached a value of $50,980. The market capitalization of Bitcoin alone surpassed the level of $930 billion. The total cryptocurrency market capitalization has grown to $1.5 trillion.

However, almost immediately after overcoming the maximum, BTC experienced a minute drawdown to $48,451. At the time of this writing, the price of BTC/USD is $49,800.

We will remind, earlier it became known that long-term investors began to drain Bitcoin. However, according to Glassnode experts, this is rather a good sign for the market. Thus, experts say, there are new places for new retail investors on the market. They are the main drivers of the bullish rally.

The article is being updated

© MarkStevenson for Commodity Blog, 2021. | Permalink | No comment |
Published under: Technical Analysis

Via Commodity Blog https://bit.ly/2OA2lVq