On this day in 2021, Bitcoin reached $50,000 for the first time in history.
It’s been 4 years since Bitcoin first hit the $50k range. This milestone marked a significant moment in Bitcoin’s history, as it continued its climb in value after a period of increased adoption and interest from institutional investors.
Here’s a timeline of Bitcoin’s price reaching $50,000:
- February 2021: Bitcoin surpasses $50,000 for the first time.
- April 2021: The price rallies to a new ATH of $64,900 but a heavy market correction follows soon after, lasting for nearly 5 months and sending the price down to $28,000 in July. A correction of approx. -55%
- August 2021: Bitcoin makes a recovery, rises above $50,000 again and runs for a new ATH of $69,600. This marks its market peak and a long bear cycle begins seeing a drop to the lows of $15,000 the following year (also known as crypto winter). A correction of approx. -77%.
- February 2024: Bitcoin breaks the $50,000 mark once more, fueled by the launch of new spot Bitcoin ETFs and anticipation of the upcoming halving event. This happens during a bull cycle and Bitcoin continues to rally, ultimately reaching the next major milestone of $100,000 in December that year.
The moment Bitcoin returned to $50,000 on February 14, 2024, marked not only a significant recovery from its previous lows but also highlighted broader trends in market acceptance and regulatory developments within the cryptocurrency space. This milestone underscored Bitcoin’s evolving role as a mainstream financial asset while setting the stage for potential future growth driven by increased adoption and upcoming halving events.
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