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Bitcoin Briefly Crosses $50,000 Milestone
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investopedia.comThe price of Bitcoin (BTCUSD) advanced beyond the $50,000 milestone on Aug. 22, 2021—the first time it has traded above this level since mid-May. Among the factors that may be fueling bullish sentiment about Bitcoin and other cryptocurrencies such as Ethereum (ETHUSD) and Dogecoin (DOGEUSD) are supportive remarks by Elon Musk, CEO of advanced electric carmaker Tesla, Inc. (TSLA), and expectations that the U.S. Federal Reserve may continue to strike a dovish stance that will keep interest rates low, thus reducing the comparative appeal of other financial assets. Musk has indicated that he holds Bitcoin, Ethereum, and Dogecoin.
Other forces that may be driving the surge in the price of Bitcoin are a rebound in mining and processing
Read more on investopedia.comAbout this in other media
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