Bitcoin breaks through $50,000 for the first time in four weeks

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Bitcoin, the world’s biggest cryptocurrency by market value, rose above $50k yesterday after a few weeks of making gains. At the start of this month, it was around $44k so there’s been a substantial increase in just a few weeks.

The cryptocurrency fell below that level amid a broader selloff in shares of cryptocurrency and blockchain-related firms on September 7. Bitcoin’s value was on the decline for September with a low of $40,596. With Tuesday’s growth, it rose up to $50,398.

On Tuesday, Bitcoin prices increased by as much as 2.35% and reached $50,398.10

Cryptocurrency investment products have been in the media limelight for a while now. Investors who see potential in this form of trading keep investing their money. The trend has only increased with regulatory authorities making supportive statements, according to CoinShares data.

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Disclaimer: The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice.

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