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Bitcoin Topping $50,000 Stirs Forecast of Run Toward Record High
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August 23, 2021
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Aug 23, 20212:04Now PlayingBitcoin topped $50,000 for the first time since May as crypto prices continued an ongoing recovery from a disorderly rout just three months ago.
The largest virtual coin advanced 3.8% to $50,272 as of 6:53 a.m. in New York, with other tokens including Ether and Cardano’s ADA also rising.
The revival in virtual currencies has excited the animal spirits of the crypto faithful, putting predictions of $100,000 or more for Bitcoin back in vogue. Others see the volatile asset carving out a wider trading range for now.
“We’re seeing some very bullish signs here,” said Vijay Ayyar, head of Asia-Pacific with crypto exchange Luno in Singapore. Bitcoin could “test all-time highs again” after pushing past levels that some had seen as major challenges.
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