Bitcoin prices News

The cryptocurrency fell below that level on September 7. On Tuesday, Bitcoin rose as much as 2.35% to hit $50,398.10.

Bitcoin price had scaled a four-month high above $52,000. A new cryptocurrency research team at Standard Chartered has predicted bitcoin will double in value and hit $100,000 by early next year. Bitcoin was at $46,024 in early European trading.

Bitcoin has climbed 82% since hitting a yearly low of $27,700 in January. The price of rival cryptocurrency ether was last up 1.97% at $3,305. The virtual coin has risen 91% since slumping to below $1,740 last month.

Bitcoin topped the $50,000 level after a recovery of almost 3 months. In April, Bitcoin reached almost $65,000 due to a high tide of liquidity, fast-money bets and growing demand from institutional investors.

Ether, the coin linked to the Ethereum blockchain network, rose 7.86 percent to $3,284.18 (roughly Rs. 2,43,700). Ethereum and better-known-rival Bitcoin both operate using a proof-of-work system that requires a global network of computers running around the clock.

Bitcoin slumped 1.89 percent in the last 24 hours to $33,813.12 on July 6. Bitcoin fell around 40 percent in the second quarter. Bitcoin prices witnessed a slump with almost 50% from its mid-April high after questions were raised on its energy consumption by Tesla Inc.’s Elon Musk along with a clampdown from China.

El Salvador`s Congress on June 9 approved Bukele`s proposal to embrace the cryptocurrency, making El Salvador the first country in the world to adopt bitcoin as legal tender. Salaries and pensions will continue to be paid in US dollars, said Bukele, without specifying if that included salaries paid to state workers and private sector employees. According to Athena Bitcoin`s website, the ATMs can be used to buy bitcoins or sell them for cash.

Bitcoin prices have gone down below $30,000 for the first time. The world's largest cryptocurrency fell as much as 6.4% to $29,614, its lowest since Jan. 27.

Bitcoin has seen an upward trend to Musk`s views for months since Tesla announced a $1.5 billion bitcoin purchase in February and said it would take the cryptocurrency in payment. Bitcoin rallied more than 9% after that message, breaking above its 20-day moving average, and climbed further in Asia to hit $39,838.92. Bitcoin is up about a third this year but has collapsed from a record peak above $60,000 amid a regulatory crackdown in China and Musk`s apparently wavering enthusiasm for it.

Bitcoin is a digital currency that is not tied to a bank or government and allows users to spend money anonymously. Bitcoin was launched in 2009 by a person or group of people operating under the name Satoshi Nakamoto. Elon Musk owned Tesla had invested $1.5 billion in Bitcoin and it started taking Bitcoin as payment