Bitcoin crosses the $50,000 mark after three months.
It's no secret that Bitcoin has been underperforming since China stopped its mining production back in June. Investors have been concerned because it fell below $30,000 for the past two months. In fact, in April, Bitcoin was on the rise, hitting an all-time high of over $64,000. So when the reports emerged that it was declining dramatically due to environmental reasons, investors were shocked.
On August 22nd, Bitcoin hit $50,000. This marks its return to the top.
How did Bitcoin hit $50,000 again?
Bitcoin has been slowly increasing for a while. Nevertheless, it definitely did get help from Elon Musk, the Tesla CEO, on social media. Last month, Musk publicly announced during "The B Word" that he has invested in bitcoin. He ...
