Bitcoin Breaks $50K For First Time Since 2021

Bitcoin reached the $50,000 mark for the first time since the bullish days of 2021. Its surge comes from a five-day period where it gained 13% and represents a strong recovery from a large sell-off in mid-January when long-awaited spot bitcoin exchange-traded funds (ETF) began to trade.

During the January drop, bitcoin fell to $38,500, as it succumbed to a familiar pattern of ‘buying the rumor and selling the news’ that plagued previously anticipated events in crypto such as the April 2021 direct listing by Coinbase and the launch of cash-settled bitcoin futures ETFs in October 2021.

Steven Ehrlich, the director of Forbes Digital Assets, joins “Forbes Talks” to discuss Bitcoin reaching $50,000 for the first time since 2021.

0:00 Introduction
0:20 Bitcoin reaching $50,000 Value Today
2:35 How Does This Translate To Real Money And The Stock Market?
3:57 What Was The Highest Bitcoin Before Today?
7:43 How Bitcoin Users Can Capitalize
10:01 What Are Current Bitcoin Miners Doing Now/Next

Read the full story on Forbes: https://www.forbes.com/sites/digital-assets/2024/02/12/bitcoin-passes-50000-amid-growing-etf-momentum/?sh=3d7682ac2a29

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