Bitcoin Price: Bitcoin crossed $50,000 on Monday.

The most popular and oldest cryptocurrency, Bitcoin, has started showing a tremendous boom again.

After seeing its all-time high level in the early months of this year, the cryptocurrency market had a tremendous fall in May and bitcoin had come down to half of the record high, but on Monday i.e. August 23, 2021, bitcoin is back in May. Seemed to touch his level.

On Monday, at 4.12 pm, a rise of Rs 66,659 or 1.76% was being recorded in bitcoin and this currency was at the level of Rs 38,52,256.

On Monday, bitcoin rose up to 3.5 percent in Asian markets during the day and this virtual currency reached the level of $ 50,093.

Bitcoin was at this level in May before falling.

The cryptocurrency market has seen a recovery in the past few weeks.

In addition to Bitcoin, today Ethereum's Ether and Cardano's currency ADA jumped.

last year's journey

If we look at the journey of bitcoin in the last one year, then in April 2020, the price of bitcoin was within $10,000.

In December, 2020, it had reached close to $24,000.

February, 2021 For the first time, the price of one unit of this has crossed 50 thousand dollars.

After this, in April this year, it made a record by going above 65,000.

But from May it started declining.

On May 17, the price of bitcoin was $ 43,541 i.e. about 32.65 lakhs.

Bitcoin fell to its lowest level in two months at $29,793 on July 20.

Since then it has seen a lot of recovery.

China's sanctions against cryptocurrency mining and the environmental impact of bitcoin mining are considered to be the reason behind the fall in the price of bitcoin.

However, cryptocurrencies have received support from financial institutions and big businesses in the last few months, after which the market is showing tremendous momentum.