Bitcoin broke above $52,000 Wednesday, with a market capitalization nearing $1 trillion.
Bitcoin (BTC) trading around $52,231.69 as of 21:00 UTC (4 p.m. ET). Gaining 7.16% over the previous 24 hours. Bitcoin’s 24-hour range: $48,430.80-$52,536.47 (CoinDesk 20) BTC trades above its 10-hour and 50-hour averages on the hourly chart, a bullish signal for market technicians.
Bitcoin trading on Bitstamp since Feb. 15.
Bitcoin trading volume on major exchanges.
Bitcoin is in “uncharted territory,” said Hunain Naseer, senior editor at OKEx Insights, after its price surged to a new all-time high above $52,000, only a day after it passed the key psychological threshold of $50,000.
Price volatility remains high when compared with major macro assets including the Standard & Poor’s 500 Index of stocks, gold and bonds.
Source: CoinDesk Research, St. Louis Fed, Yahoo Finance
“We can expect some consolidation