Bitcoin surged above the $50,000 mark on Monday, Feb. 12, 2024, reaching its highest point in more than two years. According to data from Myntmælingar, the price of the leading crypto rose by 4% to $50,168.36. Earlier in the day, it peaked at $50,334.00, marking its highest point since December 2021.
Meanwhile, ether also experienced gains, rising by more than 5.5% to $2,643.80, reaching its highest point since Jan. 12, 2024, when it hit $2,638.62.
Commenting on the significance of Bitcoin surpassing the $50,000 milestone, Antoni Trenchev, a cofounder of Nexo, a crypto services company, noted that although the launch of the Bitcoin spot ETF initially failed to propel the crypto above its current psychological threshold and even sparked a sell-off, the recent surge reflects renewed confidence in Bitcoin.
Bitcoin’s performance last week was its strongest since Dec. 8, 2024, with a gain of 10.76% by Feb. 9, 2024. The huge outflows last month from Grayscale’s Bitcoin spot ETF dampened investors’ moods, but now optimism has returned to the cryptocurrency space following the surge. Currently, inflows are rising while outflows are decreasing.
Furthermore, the stock market made a bid for Bitcoin last week, with the S&P 500 crossing 5,000. Monday also saw new intraday highs for the blue-chip Dow Jones Industrial Average and the broader S&P 500 index. CoinShares’ head of research, James Butterfill, ascribed the changing market dynamics to several factors, such as China’s easing of monetary policy, which has caused a notable increase in stock and bitcoin purchases.
He also highlighted the robust demand for Bitcoin ETFs, which saw net inflows of $2.8 billion since inception and $1.1 billion last week. ETFs got 12,000 new Bitcoins on Friday, exceeding the daily creation average of roughly 900 bitcoins.
Crypto enthusiasts have been eyeing $48,600 as a key resistance level. According to chart analysts, if Bitcoin manages to hold its current position above this threshold, it may open the door for additional gains, possibly past $50,000 or even a new record high. Nov. 10, 2021, is the crypto’s record high, when it reached an historic $68,982.20.
Monday’s surge in Bitcoin’s price had a ripple effect on related equities. Companies such as Coinbase, MicroStrategy, CleanSpark and Iris Energy saw notable gains of 3%, 11%, 14% and 16% respectively in their stock prices. This reflects the broader positive sentiment in the crypto market. Market watchers predict that traditional assets such as equities and bonds may gradually lose ground to Bitcoin-related products such as ETFs in mainstream investors’ portfolios.
For entities such as Bit Digital Inc. (NASDAQ: BTBT) that engage in Bitcoin mining, the recent surge in the price of the crypto means they can earn more from their activities.
Um CryptoCurrencyWire
CryptoCurrencyWire ("CCW") er sérhæfður samskiptavettvangur með áherslu á blockchain og cryptocurrency geirann. Það er eitt af 60+ vörumerkjum innan Dynamic Brand Portfolio @ IBN sem skilar: (1) aðgang að miklu neti vírlausna í gegnum InvestorWire til að ná á skilvirkan og skilvirkan hátt til ógrynni markmarkaða, lýðfræði og fjölbreyttra atvinnugreina; (2) grein og ritstjórnarsamboð til yfir 5,000 sölustaða; (3) aukin viðbót við fréttatilkynningu til að tryggja hámarksáhrif; (4) dreifingu á samfélagsmiðlum í gegnum IBN til milljóna fylgjenda á samfélagsmiðlum; og (5) fullt úrval af sérsniðnum samskiptalausnir fyrirtækja. Með breitt umfang og reyndur hópur blaðamanna og rithöfunda er CCW einstaklega í stakk búið til að þjóna sem best einkafyrirtækjum og opinberum fyrirtækjum sem vilja ná til breiðs markhóps fjárfesta, áhrifavalda, neytenda, blaðamanna og almennings. Með því að skera í gegnum of mikið af upplýsingum á markaði í dag færir CCW viðskiptavinum sínum óviðjafnanlega viðurkenningu og vörumerkjavitund. CCW er þar sem nýjar fréttir, innsæi efni og hagnýtar upplýsingar renna saman.
Til að fá SMS tilkynningar frá CryptoCurrencyWire, sendu texta „CRYPTO“ í 888-902-4192 (aðeins bandarískir farsímar)
Nánari upplýsingar er að finna á https://www.CryptoCurrencyWire.com
Vinsamlegast sjáðu alla notkunarskilmála og fyrirvara á vefsíðu CryptoCurrencyWire sem eiga við um allt efni sem CCW veitir, hvar sem það er birt eða endurútgefið: https://www.CryptoCurrencyWire.com/Disclaimer
CryptoCurrencyWire
New York, NY
www.CryptoCurrencyWire.com
212.994.9818 Skrifstofa
[netvarið]
CryptoCurrencyWire er knúið af IBN
- SEO knúið efni og PR dreifing. Fáðu magnara í dag.
- PlatoData.Network Vertical Generative Ai. Styrktu sjálfan þig. Aðgangur hér.
- PlatoAiStream. Web3 upplýsingaöflun. Þekking aukin. Aðgangur hér.
- PlatóESG. Kolefni, CleanTech, Orka, Umhverfi, Sól, Úrgangsstjórnun. Aðgangur hér.
- PlatoHealth. Líftækni og klínísk rannsóknagreind. Aðgangur hér.
- Heimild: https://www.cryptocurrencywire.com/bitcoin-breaches-50000-level-as-bull-run-continues/
