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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