The whole crypto market is trading at green right now as the surge of adoption scoots to the roof; Bitcoin has crossed $50K for startling news as the crypto definitely had some hard time doing so since the mid-May crypto market crash. Investors and traders were worried to their core about the investment they have had made in the crypto sector, and it is not until the start of August did things begin to cool down, and crypto assets started to reclaim their price levels. At the time of writing, Bitcoin is safely trading at $48K, but it did manage to jump all the way to $50K not so long ago, but now it has kind of backfired and is stably trading around $48K.
Bitcoin will Reclaim $60 Price Tag Soon
It has seen a 51% increase in the last 1.5 months and a sudden surge in price in the last 24 hours, which is pretty remarkable as it pushed the crypto to climb all the way to $50K. It is not the bitcoin-only that is basking in the sheen of the consecutive bullish runs, but other altcoins have also reported a solid comeback in between 8-10%. The whole thing has changed in the last 24 hours only, as Bitcoin was trading at $44K with a negative trend across the board, and in a matter of 24 hours, the cryptocurrency not only did break the $50K barrier but came back to trade consistently in between $48-49K.
Things are looking pretty solid not only for the investors but also the crypto market in general; it seems that Bitcoin is going to retake its lost spot, which was above $60K, but to reach there, it first has to achieve another milestone is $50K. The current market data and the trends at which Bitcoin is trading suggests that it would be relatively easier to do so for the crypto asset now when market adoption is in favour of the cryptocurrency and is doing well then at some point along the line when the regulatory mission would have caught up hard with the crypto market. In the last 24 hours or so, almost all of the crypto market was trading at the green with only one or two altcoins in the red space.