Bitcoin Hits $50,000 Mark for First Time in Two Years, Tether and USD Coin See Losses

Bitcoin Hits $50,000 Mark for First Time in Two Years, Tether and USD Coin See Losses

Bitcoin on Tuesday, February 13, recorded a revenue of three.76 p.c. At current, the world’s oldest, most costly crypto asset is buying and selling at $49,917 (roughly Rs. 41.4 akh), after crossing the $50,000 mark. That is the primary time since November 2021 that Bitcoin has managed to leap to $50,000 (roughly Rs. 41.4 lakh). Within the final 24 hours, proving all knowledgeable predictions proper, Bitcoin value swelled by $1,816 (roughly Rs. 1.50 lakh). As per market specialists, this surge is because of the sturdy efficiency of the US inventory market, substantial inflows into spot Bitcoin ETFs, and upcoming halving occasion.

Ether joined Bitcoin in reeling in positive aspects on Tuesday. The second-most valued crypto asset, on the time of writing, is buying and selling at $2,642 (roughly Rs. 21.9 lakh) after seeing a 5.51 p.c surge in its value within the final 24 hours.

“Bitcoin now faces its subsequent resistance at $50,250 (roughly Rs. 41.7 lakh), main in direction of the $51,200 mark (roughly Rs. 42.4 lakh). The prevailing optimistic investor sentiment manifests in an energetic bullish presence out there. Concurrently, Ethereum maintains its place above $2,600 (roughly Rs. 2.15 lakh), with bulls focusing on the $2,717 (roughly Rs. 2.25 lakh) threshold,” Edul Patel, CEO of Mudrex, advised Gadgets360.

Majority altcoins are rallying with earnings on Tuesday. These embrace Ripple, Cardano, Avalanche, Dogecoin, and Polkadot.

Different profit-making cryptocurrencies embrace Binance Coin, Solana, Chainlink, and Polygon.

The general crypto market cap rose by 3.78 p.c within the final 24 hours. With this, the valuation of the crypto sector has risen to $1.87 trillion (roughly Rs. 1,55,23,702 crore), as per CoinMarketCap.

“With market choosing up tempo, the world’s second largest crypto by market cap, Ethereum (+6 p.c), and its prime layer-2 options, OP (+8.3 p.c) and ARB (+7.5 p.c), have additionally began to indicate power to maneuver in direction of one other native excessive if the momentum in BTC is sustained with simply two months to go in essentially the most wanted occasion within the crypto ecosystem – the BTC halving,” the CoinSwitch Markets Desk advised Gadgets360.

Tether, USD Coin, Bitcoin Money, Leo, and NEM, in the meantime, registered losses on Tuesday.

“Merchants ought to take note of the US CPI announcement at the moment, because it has the potential to impression market volatility. Being cautious in response to such occasions is advisable,” the CoinDCX workforce advised Gadgets360.


Cryptocurrency is an unregulated digital forex, not a authorized tender and topic to market dangers. The data offered within the article shouldn’t be supposed to be and doesn’t represent monetary recommendation, buying and selling recommendation or another recommendation or advice of any kind provided or endorsed by NDTV. NDTV shall not be liable for any loss arising from any funding primarily based on any perceived advice, forecast or another data contained within the article. 

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