Bitcoin Has Rallied Again, It is Now Above $50k Per BTC
It won’t be an exaggeration when saying that the entire cryptocurrency industry is very controversial. But the most controversial and unpredictable cryptocurrency in the entire industry is the largest cryptocurrency, Bitcoin (BTC).
No matter how much rally or big a cryptocurrency may become, it is no match to the potential, rally, adoption, and market capitalization that Bitcoin (BTC) has.
When it comes to mainstream institutional adoption, there is no other cryptocurrency that can outmatch or outdo Bitcoin (BTC).
It is the first, the oldest, and the largest cryptocurrency in the entire industry and is constantly involved in surprising the entire world.
As per the recent reports, Bitcoin (BTC) has again started gathering a rally with respect to its price and market capitalization. This is the second time that Bitcoin (BTC) has crossed the $50k per BTC barrier since February of 2021. It was just a week back when Bitcoin (BTC) prices had dropped below the $50k benchmark after it had managed to hit the $59k per BTC mark back on February 22, 2021.
Since February 22, 2021, the lowest price that Bitcoin (BTC) experience was $44k per BTC that was experienced by the platform on February 28, 2021.
At the time of publishing, the price of Bitcoin (BTC) is sitting at $50.9k per BTC. This is a correction from the $52.6k per BTC mark that it had managed to hit earlier in the morning on February 3, 2021.
According to the stats, the price of Bitcoin (BTC) in a matter of a day has increased by 7%. Furthermore, Bitcoin (BTC) has managed to gain an increase of 6% in the past 7 days. Quite surprisingly, in the last 30 days, Bitcoin (BTC) has successfully gained a 56% rally.
From the looks of it, it is now becoming a win, win situation for the largest cryptocurrency by market capitalization. Even the nominee chairman for the US SEC has talked positively about the cryptocurrency industry, where he talked highly of Bitcoin (BTC).
According to the US SEC chairman nominee, Gary Gensler, cryptocurrencies are innovation and a new kind of thinking that has been introduced to compete with the traditional finance sector.
When it comes to providing exposure to the entire cryptocurrency sector, the currency that has done the most is Bitcoin (BTC). Since 2009, it has been on the frontline fighting off all the criticism and negative feedback. The currency has been through some really hard times and has been in this situation for a really long time.
Despite the bearish nature that Bitcoin (BTC) tends to demonstrate ever now and then, yet investors now have high hopes with the cryptocurrency. There are many who are speculating that by the end of the year 2021, BTC will manage to cross the $100k per BTC barrier.