Bitcoin Price Breaks $50,000 For The First Time In History

The price of Bitcoin just surpassed another milestone – the $50K, according to Bitstamp. This comes only five weeks after breaking $40K and six weeks following the $30K breakout.

  • Bitcoin is now recording a 72% return on investment in 2021 alone. The cryptocurrency has also delivered a 1200% ROI since recoding its 2020 low of $3,800 from March.
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BTC/USD, chart by TradingView
  • The price of BTC had a great year. Starting 2020 below $8,000, the cryptocurrency broke $13K only in the middle of October, following the exciting news from PayPal.
  • It was back then when the parabolic move of 2020 – 2021 started. Just two months after, and Bitcoin broke its previous all-time high of $20K, and from there, the primary cryptocurrency took the spaceship to the moon.
  • On the second day of 2021, Bitcoin left $30K behind. It then took only five days, and on January 7, 2021, BTC broke $40,000 to a new all-time high set on January 8th at $42K. After that, Bitcoin charted a 30% correction to retest the levels below $30K. This kind of correction was typical during the 2017 bull market.
  • Last Monday, the giant announced a Bitcoin purchase worth $1.5 billion in January. The cryptocurrency immediately spiked above the January 8 ATH at $42K, recording its largest-ever daily candle.
  • It’s interesting to note that the increase in Bitcoin’s price over the last couple of months has driven the entire market upwards.
  • Major altcoins have charted serious gains as the total market capitalization now sits at above $1.5 trillion. 

* Originally published here

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