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Bitcoin is back over 50K, the sentiment is high

Bitcoin survives a minor dent and is ready for revenge

24.Feb.21 9:02 AM
By Abigail Richards


Bitcoin is back over 50K, the sentiment is high
The bitcoin has risen again to over $ 50,000, after the sharp drop in the value of the cryptocurrency in recent days. The price of the cryptocurrency got a boost from reports that payment company Square has bought 170 million dollars in bitcoins from Twitter's CEO Jack Dorsey. Also positive comments from a major investor about the bitcoin provided a better sentiment around the world's most famous digital currency.

Square previously bought 50 million dollars worth of bitcoins and said that it is looking at ways to incorporate the digital currency into its payment services. According to Square, the additional purchase of bitcoins is part of the company's "ongoing commitment to the digital currency".

Successful and influential investor Cathie Wood, the top woman of ARK Investment Management, stated that she is very positive about investing in bitcoins.

Last weekend, bitcoin hit a record level of over $ 58,000, but then it went down rapidly to about $ 47,000. This was partly due to a tweet by Tesla CEO Elon Musk on Sunday, in which he wrote that the price of the bitcoin and cryptomunt ethereum "seem high".

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