Bitcoin hits $50k for first time in four weeks
On Tuesday, Bitcoin rose as much as 2.35% to hit $50,398.10
The logo of the Bitcoin digital currency is seen in a shop in Marseille, France, February 7, 2021. REUTERS/Eric Gaillard/File Photo/File Photo
Bitcoin, the world's biggest cryptocurrency by market value, rose above the $50,000 mark for the first time in four weeks on Tuesday, adding to a series of gains since the start of October.
The cryptocurrency fell below that level on September 7 amid a broader selloff in shares of cryptocurrency and blockchain related firms that day. It continued to fall in September, hitting a low of $40,596 on September 21.
On Tuesday, Bitcoin rose as much as 2.35% to hit $50,398.10.
Keep updated, follow The Business Standard's Google news channel
Cryptocurrency investment products and funds recorded inflows for a seventh straight week, as institutional investors warmed to more supportive statements from regulators, data from digital asset manager CoinShares showed on Monday.
