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Bitcoin price passed $ 55,000 for the first time since May

The price of bitcoin has had an unstoppable start to the week. After closing in green the previous week, the cryptocurrency maintains the pace and surpassed $ 54,000 on Wednesday. Even, momentarily, it went from $ 55,000 per unit.

It is the first time since May that the cryptocurrency is traded at those prices on exchanges, as shown in the TradingView graphs. At the time of writing this article, the price of the currency is about 54,000 dollars.

The last time BTC was above 54,000 dollars was during the day of May 12, the day the market fell drastically and the main cryptocurrency in the market depreciated more than 12%.

On that occasion, bitcoin opened the day above 56,600 dollars, but closed it below 50,000. Since then, he had not managed to recover until the end of August and the beginning of this month of September, when he began to flirt again with the $ 50,000. Along the way, BTC even fell below $ 30,000 a couple of times , between June and July.

Bitcoin did not reach this price level since May of this year. Source: TradingView.

The recovery of bitcoin has been accentuated between last week and so far this week. Between September 27 and the end of Sunday October 3, the cryptocurrency appreciated more than 11%, while between Monday and so far this Wednesday, bitcoin has gained another 11% increase in the market.

With this rise in the price per unit, bitcoin once again has a total capitalization above a trillion dollars, according to CoinMarketCap data. Currently, BTC is the eighth most valuable asset in the world with that price, as shown by the CompaniesMarketCap ranking.

Since the beginning of this week, the cryptocurrency had exceeded the total capitalization of Facebook, whose valuation was seriously affected by the global fall of its various platforms, including Instagram and the messaging service Whatsapp, as reported by CriptoNoticias.

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Sandra Loyd
Sandra is the Reporter working for World Weekly News. She loves to learn about the latest news from all around the world and share it with our readers.

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