Bitcoin hits $50,000, reaching more than a 3-month high, while Cardano is busy making new All-Time-highs, as the cryptocurrency continues to recover.
Bitcoin hit an all-time high of over $64,000 in April, but then fell heavily in June and July, even dipping below $30,000.
After dipping below $30K, Bitcoin has been growing steadily since mid-July.
The world’s largest cryptocurrency by market cap just surpassed $50,000. According to CoinGecko, it is up 2.9% in the last 24 hours, 5.8% in the last week, and 57% in the last month.
Bitcoin last saw $50,000 in mid-May, right after Tesla CEO Elon Musk announced that his company would no longer accept Bitcoin as payment for its electronic cars due to environmental concerns. This news, along with the China crack down on crypto trading and mining, led to massive Bitcoin losses.
While Bitcoin relatively fast recovery to the $50,000 level is impressive, Cardano (ADA) is in the spotlight right now.
Cardano has just hit another all-time high of $2.84.
Cardano is set to launch smart contracts on September 12, which is believed to be the main reason for this bullish rally.