Bitcoin’s trading price has risen to reclaim levels above US$50,000. This development comes as the uncertainty where this flagship virtual currency is headed once markets open in Asia today remains.
We are eager to share this latest cryptocurrency-related news with our readers. We believe this report will help them further understand Bitcoin’s trading price volatility.
According to the report posted online by international news outlet Reuters, Bitcoin’s trading price surged 2.11 percent to reclaim the ranges above US$50,000 yesterday, Sunday, December 12. This gain of the world’s most famous and largest virtual asset by market capitalization is exhibited by the trading price worth exactly US$50,445.34 yesterday.
Bitcoin’s trading price demonstrated addition of US$1,044.80 to its previous close. It is up 81.9 percent from the year’s low of US$27,734 recorded last January 4.
Bitcoin’s trading price at the time of writing is exactly US$50,145.80, based on the information posted on Coinmarketcap.com. This cryptocurrency has recovered most of its losses recorded in the past week.
The rebound of Bitcoin’s trading price rising back north of US$50,000 on Sunday happened two days after the S&P 500 closed Friday, December 10, at a level close to its all-time-high range. Over the weekend, trading volume across major centralized exchanges remained low.
The figures were far from the high level a week ago when the oldest crypto-asset tumbled to as low as US$42,333 on Saturday, December 4. The subdued trading volume shows that Bitcoin’s trading price recovery will be less sustainable, and it remains unsure where this cryptocurrency is going once the Asian markets open this week.
Meanwhile, as Bitcoin’s trading price surged above US$50,000 again, the trading prices of alternative currencies also rose. Ether’s trading price increased 0.26 percent, which is above US$4,100 yesterday.
These gains of the second-largest crypto-asset by market capitalization added US$10.78 to its previous close. The trading price of Ether, which is linked to the Ethereum blockchain network, is exactly US$4,132.77 at the time of writing.
As 2021 draws to a close, we feel glad to learn that Bitcoin’s trading price shows some encouraging signs. We understand that this flagship cryptocurrency underwent a wild ride this year.
Many factors contributed to these events, such as new cryptocurrencies getting launched and taking the spotlight, influential financial influencers like Elon Musk issuing statements affecting the overall cryptocurrency markets, and so forth.
We want to inform our readers and existing Bitcoin investors that volatility in Bitcoin’s trading price and those of other cryptocurrencies are, indeed, real. However, low trading prices are not permanent.
Similar to other Bitcoin believers and staunch supporters of this crypto-asset, we believe Bitcoin’s trading price will rise higher in the coming months. We hold this optimism as 2022 fast approaches.