Bitcoin price breaks above $50,000 for first time in 100 days
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Bitcoin's price has climbed up above $50,000 for the first time in over three months.
The world's largest cryptocurrency by market capitalization reached the $50,000 threshold on early Monday UTC time and is now changing hands at around $50,200. The last time bitcoin's price hovered above $50,000 was around mid-May.
The price move follows a sustained overall market recovery over the past few weeks after bitcoin plunged to just below $30,000 in July.
Bitcoin's market overall market capitalization is once again inching towards the $1 trillion threshold, sitting at $936 billion, data from CoinGecko shows.
Meanwhile, Ether's price has also jumped above $3,330, the highest point since mid-May.
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Wolfie joined The Block’s news team in 2020 and switched to the research side in 2021 to focus on crypto mining analysis. Prior to The Block, he had been a journalist at CoinDesk for three years. Wolfie has a background in financial journalism.
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