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Bitcoin surpasses $ 50,000 again towards the moon?

Andy Vilchez
3 min read

The volatility of bitcoin is present once again and we have seen how it has climbed more than 10,000 dollars to more than 54,000 dollars.

Bitcoin surpasses $ 50,000 again towards the moon? – Cryptocurrencies
Bitcoin price

If you invested in bitcoin a couple of days ago, you will surely be happy, as bitcoin jumped to over $ 54,000. This has not been the maximum price of this coin, since a few months ago it was located at more than 60,000 dollars.

However, at the end of September, the cryptocurrency was priced around $ 40,000. However, due to recent events, its price has risen by 35%. But, what is the reason for this increase?

The 3 possible reasons why bitcoin has increased in value

Bitcoin surpasses $ 50,000 again towards the moon? – Cryptocurrencies
Bitcoin price

Next, we want to talk to you about the possible reasons that have motivated the growth of bitcoin.

The United States will not prohibit the use of bitcoin

In recent statements by the president of the Federal Reserve of the United States, Jerome Powell, he has ruled out that this country follows in the footsteps of China. That is, to prohibit the use of cryptocurrency in the country.

Similarly, the Securities and Exchange Commission has also announced that its use would not be prohibited. This is very good news, and one that has made people breathe easier. Without a doubt, a ban by the United States would be a blow to the cryptocurrency.

The case of El Salvador

Another possible reason that the price of bitcoin has risen is the adoption of cryptocurrency as a legal form of payment in El Salvador.

Obviously, this has made a good part of Salvadorans (3 million according to official figures) have adopted its use. This means that the volume of bitcoin transactions has increased. And of course, this may have positively affected the price of the cryptocurrency.

Soros Found Management announcements

The third option and possibly the most likely is the announcement made yesterday by the head of Soros Found Management. In this statement, he has made it known that the company maintains funds in this cryptocurrency.

As it happened a few months ago when due to statements by Elon Musk, bitcoin was catapulted to $ 60,000, a similar case could be occurring.

This fund of the billionaire George Soros has ensured that they own a "small amount of cryptocurrencies". And this could be the reason why bitcoin has risen.

Will bitcoin keep rising?

Bitcoin surpasses $ 50,000 again towards the moon? – Cryptocurrencies
Bitcoin price

This is a bit unpredictable, after all, the crypto market is too volatile. However, it will be in the following days that we will know how the market will react.

The most optimistic expect bitcoin to begin its ascent to the long-awaited $ 100,000. However, the most conservative believe that the currency does not continue to rise and stabilizes around $ 50,000. However, there is also the possibility that it will go down again and once again reach the $ 40,000 barrier.