Bitcoin hits $50k for first time in four weeks

Bitcoin, the world's biggest cryptocurrency by market value, rose above the $50,000 mark for the first time in four weeks on Tuesday, adding to a series of gains since the start of October. The cryptocurrency fell below that level on September 7 amid a broader selloff in shares of cryptocurrency and blockchain related firms that day.


Reuters | London | Updated: 05-10-2021 16:07 IST | Created: 05-10-2021 15:36 IST
Bitcoin hits $50k for first time in four weeks
Representative Image Image Credit: Pixabay
  • Country:
  • United Kingdom

Bitcoin, the world's biggest cryptocurrency by market value, rose above the $50,000 mark for the first time in four weeks on Tuesday, adding to a series of gains since the start of October. The cryptocurrency fell below that level on September 7 amid a broader selloff in shares of cryptocurrency and blockchain-related firms that day. It continued to fall in September, hitting a low of $40,596 on September 21.

On Tuesday, Bitcoin rose as much as 2.35% to hit $50,398.10. Cryptocurrency investment products and funds recorded inflows for a seventh straight week, as institutional investors warmed to more supportive statements from regulators, data from digital asset manager CoinShares showed on Monday.

Also Read: Are you using bitcoin? Some facts must know about it!

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

Give Feedback