Bitcoin almost reached $ 50,000

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The leading cryptocurrency almost approached the nearest round level of $50,000 yesterday. Analysts believe that this level is no longer the limit for Bitcoin, which has further potential to rise.

It can be recalled that on Sunday morning, the main digital coin updated its historical high, surging to $ 49,400. This morning, it almost rose by around 7%, but then declined again. As a result, Bitcoin traded near $ 48,800, although its price on some crypto exchanges was approaching $ 50,000 mark. However, it was not broken down, since experts recorded the beginning of a correction in the dynamics of this very cryptocurrency.

The current week started not very well due to the decline of most cryptocurrencies. By 03:22 Universal time, Bitcoin was trading near the level of $ 46,500, and lost about 2% per day. Nevertheless, it has maintained a positive trend (+22.18%) during the previous week. This morning, Bitcoin continued to move in the range of $46,580-$46,639, plunging into a downturn. Analysts believe that this is only temporary, and the crypto asset will grow in the near future.

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It can be recalled that the leading cryptocurrency began its sharp growth after positive financial news. Bloomberg's analyst reported that Counterpoint Global, part of the financial conglomerate Morgan Stanley, considers the possibility of investing in Bitcoin. To invest such a large amount, the bank emphasizes that approval from the management and regulators is necessary. Counterpoint Global specializes in investing in promising organizations with impressive growth potential. The firm's management studies Bitcoin, evaluating its capabilities and attractiveness for its customers.

Many analysts and market participants are inspired by the prospects of the main digital currency, which is not surprising. Throughout the past two weeks, the price of BTC has risen by more than 50%, and this is not the limit. Experts say that the first cryptocurrency has a huge growth potential. They expect a significant correction in the digital currency market, which will be avoided only by the main digital asset. According to analysts, Bitcoin can be a "safe haven", and investments in it will pay off, despite the off-scale market volatility. This is because it is strongly supported by the growing interest from major investors, in particular Elon Musk, the creator of Tesla and SpaceX, and others.

The news about its active distribution both among private investors and among traditional banking structures also contributes to its price growth. It can be noted that the Bank of New York Mellon, the oldest financial institution in the United States and the world's largest depository organization, began working with cryptocurrency. They are developing a special platform on which one can conduct transactions with digital assets. Virtual funds will be stored in BNY Mellon, along with fiat funds. The organization intends to work effectively with these.

The material has been provided by InstaForex Company - www.instaforex.com

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