Bitcoin has again overcome the level of $50 thousand

The cost of bitcoin on Tuesday exceeded the $50 thousand mark for the first time since September 7. Over the past day, the price has increased by 5%, and over the week – by 18%. The current quote of the most popular cryptocurrency is $49,785.

During September, bitcoin tried several times to gain a foothold above the $50 thousand mark. On September 7, the cryptocurrency fell amid a large sale of shares of companies related to cryptocurrency and blockchain. During the month, bitcoin continued to fall, reaching a low of $40,596 dollars on September 21.

And now the «bullish» sentiment has returned to the cryptocurrency market. Analysts believe that the trend change is due to the growing investor confidence in this asset class and more flexible statements by the Fed and the U.S. Securities and Exchange Commission. Recall that Fed Chairman Jerome Powell, in his recent speech to Congress, said that the regulator does not intend to ban cryptocurrencies.

The growth of bitcoin has pulled the rest of the crypto market along with it. Many cryptocurrencies have also risen in price today. Moreover, there was an increase in the shares of cryptocurrency companies such as Marathon Digital Holdings, Riot Blockchain and Bit Digital.