Bitcoin climbs to $51,000, hits highest in more than two weeks
business-standard.comBitcoin rose to about $51,000 and touched the highest level in more than two weeks, buoyed by wider positive sentiment in financial markets.
The largest cryptocurrency has advanced some 4% over the past two days and at one point reached $51,524 on Friday in Asian trading. Ether, the second-largest token, was near $4,100.
Risk ardor has improved in global markets, evidenced by a record-high close for the S&P 500 on Thursday. It remains to be seen whether a receding tide of central bank liquidity will bring bigger challenges for cryptocurrency demand.
“I view Bitcoin as a high-beta risk asset,” said Ross Mayfield, an investment strategy analyst at Baird. “When risk appetite is up, it’s up big. And when risk appetite is down, it can be down
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