After dipping below $50,000 again on Sunday, bitcoin has gone on a tear once again and surged to a new multi-month high above $52,000. Some altcoins are also well in the green, with Binance Coin trading above $500 and Chainlink increasing 15%.
Bitcoin Touched $52K
The previous couple of days were working out for BTC as the possession had recuperated from the mid-week rate drops listed below $47,000. In fact, it challenged $50,000 a couple of times, and after the last one, it even went to a high of $51,000.
This cost rise was fairly brief as the bears didn’t allow it to continue forwards. In the next couple of days, bitcoin dropped below the coveted $50,000 mark and went down to just over $49,000.
However, the circumstance altered once again in the previous 24 hours. In a matter of hours, BTC gained roughly $2,000 of value. This resulted in briefly exceeding $52,000, which became the new greatest cost point considering that the mid-May correction.
Despite retracing with a couple of hundred dollars ever since, bitcoin’s market capitalization sits near $1 trillion, while the supremacy over the altcoins is still at 41.5%.