Friday, June 21, 2024

Market Watch: Bitcoin Sticks To $51,000

Up by 2.23% in the last 24-hours, Bitcoin sticks to the $51,000 mark after surpassing $50,000 in almost two weeks. The world’s most popular cryptocurrency hit a low on December 20 and finally settled a little above $51,000 on Christmas Eve. BTC did good on Christmas day and continues to see gains as the year nears its end.

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According to the CoinMarketCap chart, as shown above, BTC stands at $51,099. You can see its high volatility features and how much the cryptocurrency has struggled to make it across the $50,000 market. Ethereum, the second most popular cryptocurrency has also recorded Christmas highs. It has been up by 0.69% in the last 24-hours. ETH stands at the $4,000 mark.

2021 has been a year of frenzy for the cryptocurrency market. Bitcoin achieved new heights in April and May, crossing the $65,000 threshold. However, this high was just before it tumbled down to a new low. Mid-2021 witnessed the cryptocurrency market debut its first Bitcoin ETF at the New York Stock Exchange.

El Salvador became one of the first countries to recognize BTC as legal tender. Cryptocurrency ATMs were established and NGOs collected a good amount of donations in cryptocurrencies as investors looked to bypass taxes.

US President Joe Biden’s ambitious infrastructure bill had the market scrambling for some time to regain ground. But it was dealt another blow by omicron, a new variant of the COVID-19, which is said to be highly transmissible, more than the delta variant. With the world still trying to stem the spread of COVID-19 and its new variants, the cryptocurrency market is keeping vigil.

It seems to be gaining momentum as the eventful year wraps up. With the dawn of 2022 looming at a distance, crypto enthusiasts and investors hope that BTC sees more gains in the new year and crosses the $100,000 mark.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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