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Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

Bitcoin reaches $50 thousand

August, 23 2021
watermark Economic news

The value of bitcoin surpassed the $50,000 threshold on Monday for the first time since May. Since hitting an annual low of $27,700 in January, the cryptocurrency is up 81%. The market capitalization of bitcoin has exceeded $940 billion.


The recovery of cryptocurrency is facilitated by the actions of financial companies expanding access to cryptocurrencies. For example, PayPal Holdings Inc announced today that starting this week it will open up the ability for UK customers to buy, sell and store bitcoins, just like other digital currencies.


Moreover, investors are betting that the prospect of an increase in US government spending will lead to further growth in cryptocurrency, which affects the dynamics of bitcoin. Many traders are of the opinion that the current rally is not over yet, as the bitcoin market has yet to see the full return from private investors.


Ethereum rose 2.97% to $3,337.72. The virtual coin has risen 91% since July, when it dropped below $1,740.


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Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.