Bitcoin has broken over the $50,000 barrier once again.

ByFaisal Chughtai | Published date:
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Bitcoin has once again surpassed the $50,000 barrier after a spectacular two-week surge that prompted tech-savvy enthusiasts to buy more of the cryptocurrency. This is the first time in almost a month that the world's flagship cryptocurrency – the biggest by global market capitalization – has surpassed $50,000. According to CoinMarketCap, BTC was comfortably trading around $50,215 at the time of writing.

Many reasons may have impacted Bitcoin's recent surge to new highs, as miners worldwide earned millions of dollars despite harsh attitudes voiced by nations such as China. From Edward Snowden's support for the cryptoverse to the United States' newfound leniency toward cryptocurrency adoption - a few educated assumptions here and there may assist identify the indications that fueled Bitcoin's current bull run.

In the smaller caps, a similar trend was seen, with currencies like Ethereum, Binance, and Dogecoin pushing beyond promising levels in the last 24 hours. Ethereum, the second-largest cryptocurrency by market value, was up 3.28 percent to $3,445. Binance Coin was trading over the $440 mark (+2.65 percent), while Dogecoin was selling at $0.23 (+10.53 percent). Solana, the sixth-largest cryptocurrency by market capitalization, continues to astound experts with its rapid ascent. It was trading at $168.8 at the time of writing, up 1.21 percent in the previous 24 hours and 24 percent on the seven-day index.

Here's How a Mainstream Influencer Aided Pakistan's Crypto Leadership Many experts were sceptical about this shift at the start of the week owing to unconfirmed news circulating in the crypto community since, in a volatile market, more good news means disaster for investors in the short term.

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