Cryptocurrency king Bitcoin has reclaimed the $50,000-mark for the first time since May. Bitcoin has been trading over it's 200-day moving average and technical analysts are optimistic about the upmove trend for the digital token.
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Bitcoin hit a record $65,000 in mid-April but dropped down to $30,000 in May and has stayed in the $30,000-$40,000 range ever since.
Crypto assets are finding their feet again with traders as institutional acceptance and adoption becomes more widespread. Global crypto adoption has risen some 881% in the past 12 months, according to Chainalysis.
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But Bitcoin is not the only winner in the past seven days there has been a 18% rally in Cardano and also a 11% gain in Binance Coin, while Dogecoin is up about 9% over the period and Solana 73%, CoinGecko pricing showed.