The barrier of $ 50,000 has finally fallen for the price of bitcoin. This Tuesday, February 16, the market value of the cryptocurrency has exceeded that figure for the first time in its history, with a new momentum close to 5% in the last 24 hours.
During hours of the early morning, already in some exchanges the resistance of $ 50,000 had been broken. However, it was with little force. Now, data from CoinGecko shows that on the morning of this Tuesday a new historical price high (ATH) was set at $ 50,350.
For example, on Binance, exchange with the highest volume of trade in the ecosystem of bitcoin and other cryptocurrencies, they reached $ 50,600 in the early morning. But that breakout was followed by a sharp correction to $ 48,500.
This morning’s rise as well was followed by a new correction , although the price of bitcoin continues to fight to return to 50,000. At the time of writing, the price of BTC is around $ 49,400.
After surpassing the historical price mark, bitcoin momentarily surpassed the Chinese tech giant Tencent as the eighth largest capitalization asset in the world, CompaniesMarketCap records show.
Currently, the total capitalization of bitcoin is equivalent to 920,000 million dollars and is at about $ 150 billion from Tencent. With that capitalization, it remains in ninth place, ahead of Tesla.
The rest of the top cryptocurrencies did not follow the rise of the last hours. Of the top 20 currencies by capitalization, only polkadot (DOT), cardano (ADA), uniswap (UNI), and cosmos (ATOM) show green numbers between yesterday and today.
MicroStrategy or the inevitable $ 50,000 for bitcoin?
There are those who attribute the breakdown of USD 50,000 to the announcement that MicroStrategy, one of the companies leading the investment wave Institutional in bitcoin, will seek to raise another 600 million dollars to invest in the cryptocurrency.
Despite of that news, many analysts have previously considered that the breakdown of that brand was a matter of time, seeing the behavior of bitcoin in the market and the increasing institutional interest.
Willy Woo, for example, recently assured that the capital flow from investors to the cryptocurrency establishes a next price around 63,000 dollars in the short term, reported CriptoNoticias this February 14
That same day, bitcoin touched $ 50,000 with a boost apparently caused by the interest shown by Morgan Stanley, one of the most recognized financial services and investment multinationals in the world.
Meanwhile, there are those who hope that this year bitcoin will reach levels as high as 100,000, 200,000 and up to 300,000 dollars. Woo himself believes that the first of these three levels is an even conservative price target during this bull cycle.
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