Bitcoin price tops $50,000 again

Bitcoin cryptocurrency rose in price to $50,000 for the first time since the beginning of last month. This time, Bank of America's statement was cited as the key reason for the rise.

In the first half of September the value of Bitcoin came close to $53,000, but then declined amid concerns about regulation in China and the United States. By September 22, the rate broke through $41,000. Starting from October 1, the cryptocurrency moved to growth. In a few hours, its price rose by almost $4,000, amounting to about $47,200.

At the moment of writing this article, one BTC coin is valued at $51,659. During the last day its value grew by 4.62%, during the week it rose by 22%, and since the beginning of the year it increased by 76.5%. The growth on October 1 was recorded after Jerome Powell, chairman of the U.S. Federal Reserve, said there are no plans to ban the cryptocurrency in the country.

The $50,000 mark Bitcoin crossed after Bank of America's statement that the digital currency market cannot be ignored. In addition, Wall Street is increasingly interested in the cryptocurrency, even despite China's ban on it.

Source: Bloomberg, CoinMarketCap