Bitcoin breaches $US50,000 threshold with technicals back in focus
Vildana Hajric and Joanna Ossinger
Apr 24, 2021 – 5.58am
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Bitcoin headed for its worst week in almost two months as a proposed capital-gains tax increase for wealthy Americans intensified the volatility whiplashing the world’s largest cryptocurrency.
A fresh bout of selling on Friday (Saturday AEST) drove bitcoin down as much as 7.9 per cent to $US47,525 below its 100-day moving average as it continued to take out key technical levels.
Nearing 6am AEST on Saturday, bitcoin was trading at $US50,825 on bitstamp.net.
Bitcoin has been one of the best-performing assets in recent years anyone who bought a year ago is sitting on a nearly 550 per cent gain. For investors who bought in April 2019, it’s roughly 800 per cent.
Bitcoin drops below $50 000
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