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Bitcoin Price Crosses $50,000 for First Time In 3 Months

Last Updated on August 23, 2021 by Opeyemi Quadri

Bitcoin crossed $50,000 (N25,999,830.26) on Monday, August 23, 2021 for the first time since May. It made a significant come back rising sitting at $50,348.73 at the time of publishing this report.

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Live price chat monitored on coinmarketcap showed that it gained 2.44% in the last 24 hours while it made 6.86% gain in the last seven days.

This is the highest since May when it began tumbling as a result of a few factors including Tesla boss Elon Musk’s decision to stop accepting BTC and China’s crackdown on cryptocurrencies.

Since  Elon Musk showed interest in crypto, his influence sparked a wide interest of other top bosses around the world to announce the adoption of digital currency.

Bitcoin price in Nigeria as of August 23, 2021, is heading towards N30million as it’s currently doing N25,999,830.26 on quidax, one of the leading crypto platforms.

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The latest upward move showed that the price of BTC has risen more than 70 percent from the six-month lows below $29,000

Next target

The latest price surge is most likely to spark more speculations among traders and it’s likely to push towards $100K. It’s predicted that 1BTC would worth $341,000 by 2025, you can see the breakdown of the predictions in our December 2020 publications at: https://infomediang.com/bitcoin-predictions

Other coins making gains

The price chart has shown noticeable gains by other coins like Ethereum which is currently worth $3,344.30, showing a 2.49% gain in the last 24 hours.

Binance coin is making an in-round to $500 as it currently sitting on $496.37, gaining 8.66% in the last 24 hours.

Interestingly, monero (XMR) made an 11.22% gain in the last 24 hours, sitting at $327.49 at the time of publication.

Will BTC made another comeback it has never made? We’ll continue to monitor.

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