Bitcoin Retakes $50K, A Key Level For A Bull Revival
Bitcoin has reclaimed $50,000 and remained above the mark all day. March may prove not to be the bearish month it has been known to be.
Bitcoin has once more crossed above $50,000, possibly marking an end to the recent price pullback and a revival of the broader uptrend.
The top cryptocurrency by market value was trading near $51,600 at press time, up 6.3% on the day. It’s still down from an all-time-high price above $58,000, though it’s climbed from a low of $43,000 reached last week, according to CoinDesk 20 data.
“The correction looks to have ended with a move above $50,000,” John Ng Pangilinan, managing partner at Singapore-based Signum Capital, told CoinDesk. Securing a foothold above that level is key to the resumption of the broader uptrend and a move toward new record highs, he said.