Bitcoin Jumps Above $50,000 in Recovery from Last Week’s Rout

By Eric Lam and Joanna Ossinger

Bitcoin rallied back above $50,000, surpassing the key psychological level as bullish momentum returned after last week’s selloff.

The digital token climbed 8% to trade around $51,500 in early U.S. trading, reaching the highest level in a week. The cryptocurrency has been volatile. Prices plunged 21% last week and have recovered with the broad bounce back in equities.

The swings in Bitcoin and Ethereum give “the impression that they are a general barometer of risk sentiment,” said Steen Jakobsen, chief investment officer of Saxo Bank.

To read more:

Leave a Reply

Your email address will not be published. Required fields are marked *