Bitcoin price breaks above $50,000 for first time in 100 days

Bitcoin • August 22, 2021, 11:04PM EDT
UPDATED: August 23, 2021, 4:21AM EDT
The Block

Bitcoin's price has climbed up above $50,000 for the first time in over three months.

The world's largest cryptocurrency by market capitalization reached the $50,000 threshold on early Monday UTC time and is now changing hands at around $50,200. The last time bitcoin's price hovered above $50,000 was around mid-May.

The price move follows a sustained overall market recovery over the past few weeks after bitcoin plunged to just below $30,000 in July.

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Bitcoin's market overall market capitalization is once again inching towards the $1 trillion threshold, sitting at $936 billion, data from CoinGecko shows.

Meanwhile, Ether's price has also jumped above $3,330, the highest point since mid-May.

About Author

Wolfie joined The Block’s news team in 2020 and switched to the research side in 2021 to focus on crypto mining analysis. Prior to The Block, he had been a journalist at CoinDesk for three years. Wolfie has a background in financial journalism.