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Bitcoin price back over $50,000, as market calms after weekend turmoil
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business-standard.comBy Alun John
HONG KONG - Bitcoin rose 1.5% in early Asia on Tuesday, after firming overnight in line with equity markets and other risk assets, but many crypto traders remained on edge after Saturday's sharp and sudden plunge.
The world's largest cryptocurrency was last around $50,800, having closed a choppy day on Monday 2.2% higher.
"The general confidence in crypto is still high and market sentiment is coming back as we saw a general risk-on mood on Monday. Omicron's effect looks a lot milder than the market has digested," said Edison Pun, senior market analyst at Saxo Markets in Hong Kong.
Tuesday's calm followed quite a storm.
Bitcoin fell as much as 22% to just under $42,000 on Saturday on a combination of profit-taking and
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