Bitcoin trades above $50K psychological resistance for first time in three months
Bitcoin is once again trading above the $50,000 price tag, hitting the mark for the first time in over three months, according to CoinDesk.
The world’s largest cryptocurrency by market value is up 2% over a 24-hour period and is currently changing hands for around $50,050, its highest point since May 15. Bitcoin’s year-to-date returns now stand at 71.4%, CoinDesk data shows.
“It’s not the first time we’ve crossed this legendary milestone, but given the advancements in the industry lately, $50,000 certainly seems justified at this time,” said Mati Greenspan, CEO of Quantum Economics.
Larger global issues including the upcoming U.S. Federal Reserve meetings at the end of August and a Federal Open Market Committee meeting in September may cause the market to consider any possible moves on global liquidity, according to Toby Chapple, head of trading at digital asset firm Zerocap.
“Any move by the Fed would be negative for price action and involve possible contagion from a risk-off event in traditional markets.” Chapple said.
Dariusz Mazurkiewicz – CEO at BLIK Polish Payment Standard
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Many more interesting quotes in the video below:
