The price of Bitcoin continued to rally on Tuesday to hit $50,000 for the first time in a month amid macro uncertainty, CoinTelegraph reported.
- Bitcoin prices climbed 5% Tuesday to mark a brief return to the “psychologically significant” price point, benefiting from macro uncertainty and the outage of social media platforms such as Facebook and Instagram.
- CoinTelegraph Contributor Michaël van de Poppe said the recent uptrend was in line with expectations given the current movement, as the dips remained limited in scope.
- Van de Poppe predicts Bitcoin to break upwards toward around $50,000 before falling down towards $49,000, and then it will continue to rally back up, noting that an “ideal” bounce for a retest would be around $47,500.
Only Dogecoin recorded bigger growth in the past day, up 10% following publicity from popular investor Elon Musk. BTC is up 4.77%, DOGE up 10.75%, and FB up 1.81%.