Bitcoin price breaks above $50,000

On Monday, August 23, the price of the first cryptocurrency rose above $50,000 for the first time since the May decline.

At the time of writing, the asset was trading around $50,200.

Over the last 24 hours the coin rose by 2.1%, over the week by 6.6%, according to CoinGecko. Bitcoin’s market capitalization stood at $942.9 billion.

According to Bybt, open interest in Bitcoin futures markets reached $18 billion.

The Fear and Greed Index is in the green at 79.

On August 20, the first cryptocurrency surpassed $48,700, after which it breached the $49,000 level.

Earlier, Bitcoin skeptic and gold advocate Peter Schiff acknowledged that the price of the first cryptocurrency could soar to $100,000 and he regrets not having bought the asset in 2011.

Bloomberg Intelligence’s senior strategist Mike McGlone called Ethereum an obstacle to Bitcoin’s rise to $100,000.

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