Erico58
2021-08-23
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Bitcoin Briefly Tops $50,000 Level for First Time Since Mid-May
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Bitcoin was last above $50,000 in mid-May.</p>\n<p>The revival in virtual currencies has excited animal spirits again among the crypto faithful, putting longer term predictions of $100,000 or more for Bitcoin back in vogue. Others see the speculative, volatile asset carving out a wider trading range for now.</p>\n<p>Bitcoin is “getting nearer the higher end of what I expect as a new trading range in the low-$40,000s to low-$50,000s,” Rick Bensignor, chief executive officer at Bensignor Investment Strategies, wrote in a note Monday.</p>\n<p>Bitcoin hit a record of almost $65,000 in April, driven higher by a tide of liquidity, fast-money bets and optimism about growing demand from institutional investors.</p>\n<p>But more critical commentary later emerged, including about the environmental cost of the energy consumed by the computers that underpin Bitcoin. An intensifying cryptocurrency crackdown in China also soured the mood. 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