Bitcoin, the largest cryptocurrency, broke above the crucial psychological threshold of $50,000 on Tuesday for the first time since Sept. 7.
“It’s too early to say whether this will turn into a new support level in the short term, but it is clear that the overriding market view is bullish,” said Jason Deane, analyst at Quantum Economics.
- At press time, bitcoin was trading at $50,303, up 5.5% over the last 24 hours.
Read More: 4 Factors Helping Bitcoin to $50K as Stock Market Declines
