Bitcoin retests $50,000 milestone, the second time in 10 days
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Bitcoin retests $50,000 milestone, the second time in 10 days

Saudu Clement
Saudu Clement

Bitcoin reclaimed the $50,000 benchmark on Thursday, ten days after it tested the level on August 23.

The flagship cryptocurrency has risen by 5.5% in the past 24 hours, according to CoinGecko. It peaked at a local high of $50,171, with a market cap of $941.6 billion. Bitcoin’s dominance is currently 40.6% of the entire crypto market.

Although historically September has always been a difficult month for Bitcoin bulls, the recent rally is a positive start for the month. According to data from bybt.com, investors have suffered losses in September for four years in a row, with maximum monthly returns slightly above 6%.

In other news, the second-largest cryptocurrency Ethereum is up by 5.8% over the day, having re-tested levels above $3,800.

Meanwhile, Cardano (ADA), which climbed to the third spot last month, hit a new all-time high of $3.09 earlier today, as the network prepares for the Alonzo hard fork. The eagerly anticipated Alonzo upgrade will bring smart contract functionality to the network.