Read more on this subject: Bitcoin
News Story Source: Zero Hedge
A little over a month ago – when JPMorgan and every so-called financial expert was bashing bitcoin and saying a crash is imminent – we said that $50,000 is only a matter of weeks if not days (on its way to $100,000). Well, that prediction came true at exactly 7:29am ET this morning when bitcoin soared by some $2,000 in minutes, rising above $50,000 for the first time ever and hitting $50,547.70…
… although it was quickly smacked down by large futures shorts who face huge losses if the momentum accelerates north of $50,000, and they are squeezed and forced to cover a la GME.
The world's largest cryptocurrency is now up about 73% so far this year, its total value surpassing the market cap of TSLA and rapidly approaching the $1 trillion level. Ethereum hit a record on Friday and is up about 140% year-to-date.
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