Bitcoin shoot up above $50,000 mark, first time in four weeks

The global crypto market cap increased more than 3 per cent to $2.22 trillion correlated to Tuesday. However, the total crypto market volume bounced around 4 per cent to $110.80 billion.

On Wednesday, Bitcoin prices proceeded to increase gains a day after crossing the $50,000 mark for the first time in four weeks. The world’s largest cryptocurrency at market capitalization was trading 5 per cent higher at about $51,614 at 11:30 am.

As per CoinDesk, Ether, the coin connected to the Ethereum blockchain and the second-largest crypto, was up by 3 per cent to $3,500. Cardano prices increased to $2.22, whereas dogecoin rose almost 5 per cent to $0.24. Other digital signs like Stellar, Litecoin achieved Solana, and Uniswap shifted over in the last 24 hours.

The global crypto market cap increased more than 3 per cent to $2.22 trillion correlated to Tuesday. However, the total crypto market volume bounced around 4 per cent to $110.80 billion.

The Bitcoin approach has succeeded China’s ban on cryptocurrency buying and commotion around El Salvador’s shaky rollout of the digital coin as legal tender, reports Bloomberg.

“Now that Bitcoin has surpassed $50,000, we do expect this bull run to take it to near highs during the fourth quarter,” said Leah Wald, chief executive officer of Valkyrie Investments, a functional alternative asset management company in a Bloomberg QuickTake video.

Bitcoin had dipped below the $50,000 target in early September during a broad selloff. Its prices degenerated considerably in September, hitting a low of $40,596 on September 21.

The top cryptocurrencies and their prices on Wednesday:

1.Bitcoin–$51,540

2.Ether–$3,494.17

3. Binance Coin – $433.01

4. Cardano – $2.20

5. Tether – $0.9999

6. XRP – $1.06

7. Solana – $157.16

8. Dogecoin: $0.2592

9. USD Coin $1.00

10. Polkadot – $30.98

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