Bitcoin surpasses $50,000 again as whale invests $583m in crypto | Ripples Nigeria
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Bitcoin surpasses $50,000 again as whale invests $583m in crypto

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Bitcoin fails to maintain surge after hitting $50,000 mark

Bitcoin is now comfortably sitting above the $50,000 mark after losing over $10,000 in February following a bull run from the fourth quarter of 2020 to the first month of this year.

According to checks by Ripples Nigeria, bitcoin is currently trading at $51,405.95, as it gained another momentum following fear of another crash after its price bubble. The highest bitcoin has trade in the last 24hours is $51,824.92.

Read also: Four factors bitcoin is using to unseat Gold as asset-class king

The growth in bitcoin’s value has got it aiming to surpass Gold which currently trades at $55,421.14, after falling by 0.79 percent. It was previously reported that bitcoin surpassed Gold twice since it was created in 2009.

It surpassed Gold in 2017 and 2021, and with about $583 million worth of bitcoin bought on Tuesday, at about $48.600 according to Bitcoin Archive, bitcoin is being hyped by bitcoin traders to surpass Gold again.

The pump by the unnamed whale, had pushed bitcoin beyond $50,000 mark, as bitcoin was trading below $47,000 before the capital investment. Note that the unnamed investor is a whale that could manipulate the market due to their significant holdings in bitcoin market.

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