Despite retracing after the latest two-week high by numerous hundred dollars, bitcoin has remained above $50,000. Most altcoins are also a little at a loss following yesterday’s gains, with a few exceptions, such as Bitcoin Cash ABC, which is up by 50%.
Bitcoin Maintains $50K
Following a few consecutive weeks of consistent rate drops, bitcoin lastly initiated a remarkable leg up the other day, in which it broke above $50,000. Additionally, the cryptocurrency kept going upwards in the following hours and tapped a new two-week high of practically $52,000.
However, BTC stopped working to continue north as the bears stepped up. They pressed it south, however bitcoin still stands at around $51,000. It’s worth noting that the asset was not able to trade above $50,000 for two days in a row because the early December cost crash.
The current cost level means that BTC’s market capitalization has actually stayed above $950 billion, while the supremacy over the altcoins is at 40.6%.