The price of Bitcoin reached $ 50,000 and fell

The price of Bitcoin reached $ 50,000 and fell : Following the positive news of the acceptance of Bitcoin by major financial institutions, the price of Bitcoin rose significantly to $ 49,716 on Sunday and set a new price record. But it fell to $ 45,600 a few hours later and is currently trading in the $ 47,000 range.

According to Quinn Desk, Bitcoin surpassed its previous record of $ 49,000 set on Thursday, reaching $ 49,716. But it is currently trading at $ 47,500 with a slight correction and a 4.6% drop from the price peak. There seems to be no particular reason for this price drop in the last hour.

The new bitcoin price record was set while analysts believe that the reason for the growth of bitcoin prices at this staggering rate is the increase in the interest of corporate investors in bitcoin.

Yesterday’s Bloomberg report also confirms this claim. Morgan Stanley Investment Division, called Counterpoint Global, which has more than $ 150 billion in assets, is considering investing in digital currencies, Bloomberg reported yesterday.

In other news, Deutsche Bank Germany is also seeking to provide digital currency safeguards with the aim of providing services to hedge funds that intend to invest in digital currencies. Ark Invest, in a report to the US Securities and Exchange Commission, said it had increased its stake in Bitcoin GrayScale. In addition, the Bank of New York Mellon will expand its digital currency safe deposit box.

All this good news came a few days after the biggest news of the year for Bitcoin, that Tesla Automotive has invested $ 1.5 billion in Bitcoin.

As bitcoin prices hit record highs, some altcoins also saw price increases. China Link price reached 35.73% and set a new record. Also, coins such as Bitcoin Cache, Atrium Classic, Bitcoin Easy and Neo grew by more than 20% in 24 hours.

The price of Bitcoin reached $ 50,000 and fell