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Bitcoin (BTC) Price Reached $50,000 on CEX.IO

The price of Bitcoin grew from $38,000 to $49,000 last week. The following days, the King of Crypto kept going up and down and was hit by resistance at $50k that didn’t let it approach it for most of the time. Nevertheless, the cryptocurrency has finally managed to hit this milestone, according to data from CEX.IO.

What Happened?

Bitcoin has been in the spotlight of news outlets for months now, and the general stance regarding digital currencies seems to have shifted toward a more positive note.

In the past, it was very common for the mainstream media to pronounce Bitcoin dead or call it a bubble every time the price faced rejection, but it seems that those days are behind us. Even traditional financial institutions, such as Deutsche Bank and Morgan Stanley have decided to join the crypto space.

Morgan Stanley’s latest statement was the most surprising since it looked like the bank acknowledged that Bitcoin is here to stay and that the cryptocurrency has the potential for slowly replacing the US dollar.

Tesla also acquired $1.5 billion worth of Bitcoin, which the crypto community was expecting, causing the price of Bitcoin to grow by $10,000. Unfortunately, now Elon Musk may have to face an SEC investigation because of the circumstances of this purchase.

Furthermore, the US government isn’t too happy regarding Bitcoin’s progress to “replace the USD.”

$50k Per Coin

Data from CEX.IO shows that Bitcoin has managed to reach a new ATH a couple of hours ago when it went past $50,000 and reached $50,230.

The price was rejected immediately, and Bitcoin is currently traded for $49,172. It is hard to speculate if the price of BTC will try to break the $50k resistance again or not. But we know that the cryptocurrency has gained the attention and interest of many, including important banks, so the future could be bright after all.

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