Recently, Bitcoin crossed the $50,000 threshold for the first time. The development came after the cryptocurrency exploded in value. Events like short selling in the stock market helped give Bitcoin momentum. For now, the current Bitcoin price remains above $50,000. Various companies have adopted the cryptocurrency as a payment method in the past few weeks. It doesn’t hurt that Bitcoin is now easier than ever before to acquire.
For quite some time, proponents have suggested Bitcoin could be valued over $100,000 per Bitcoin. Something that seemed improbable a year ago could now become a reality. Bitcoin continues to trade in relatively small ranges before jumping in value every so often. In the end, the momentum remains positive and strong for Bitcoin investors. A pullback of some sort is likely within the next few weeks, though. Plenty of investors will want to cash in on some of these profits.