# Bitcoin price today: Cryptocurrency hits $50,000 level for first time since May | Tech News (HT Tech) > Bitcoin price today: In what will bring great relief to cryptocurrency holders, Bitcoin rate hit the $50,000 mark after months of disappointments. # Bitcoin price today: Cryptocurrency hits $50,000 level for first time since May ## Bitcoin price today: In what will bring great relief to cryptocurrency holders, Bitcoin rate hit the $50,000 mark after months of disappointments. Aug 21 2022, 19:47 IST ![Follow on Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/follow-us-facebook.png) ![Follow on Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/follow-us-facebook-hover.png) ![Share](https://images.hindustantimes.com/tech/static/revamp/images/png/Share.png) ![Share](https://images.hindustantimes.com/tech/static/revamp/images/png/Shareclicked.png) ![Share on WhatsApp](https://images.hindustantimes.com/tech/static/revamp/images/png/whatsapp.png) ![Share on WhatsApp](https://images.hindustantimes.com/tech/static/revamp/images/png/whatsapp-hover.png) ![Share on Twitter](https://images.hindustantimes.com/tech/static/revamp/images/png/twitter.png) ![Share on Twitter](https://images.hindustantimes.com/tech/static/revamp/images/png/twitter-hover.png) ![Share on Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/facebook.png) ![Share on Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/facebook-hover.png) ![Bookmark](https://images.hindustantimes.com/tech/static/revamp/images/png/Bookmark.png) ![Bookmarked](https://images.hindustantimes.com/tech/static/revamp/images/png/Bookmarked.png) ![Bitcoin price today: The cryptocurrency almost reached $50,093 mark in Asian trading Monday, with other tokens including Ether and Cardano’s ADA also rising.](https://images.hindustantimes.com/tech/img/2021/08/23/1600x900/man-3126802_1920_1614622023630_1614622039989_1629690927531.jpg) Bitcoin price today: The cryptocurrency almost reached $50,093 mark in Asian trading Monday, with other tokens including Ether and Cardano’s ADA also rising. (Pixabay) ![Author Photo](https://images.hindustantimes.com/tech/static/revamp/images/png/HTTech-new-circle-logo.png) ### By BLOOMBERG Bitcoin topped the closely watched $50,000 level again in an ongoing recovery in the cryptocurrency market from a disorderly rout just three months ago. The largest virtual coin advanced as much as 3.5% to almost $50,093 in Asian trading Monday, with other tokens including Ether and Cardano’s ADA also rising. Bitcoin was last above $50,000 in mid-May. Also read: Looking for a smartphone? Check Mobile Finder here. Also read click here. The revival in virtual currencies has excited animal spirits again among the crypto faithful, putting longer-term predictions of $100,000 or more for Bitcoin back in vogue. Others see the speculative, volatile asset carving out a wider trading range for now. Bitcoin is “getting nearer the higher end of what I expect as a new trading range in the low-$40,000s to low-$50,000s,” Rick Bensignor, chief executive officer at Bensignor Investment Strategies, wrote in a note Monday. Bitcoin hit a record of almost $65,000 in April, driven higher by a tide of liquidity, fast-money bets and optimism about growing demand from institutional investors. But more critical commentary later emerged, including about the environmental cost of the energy consumed by the computers that underpin Bitcoin. An intensifying cryptocurrency crackdown in China also soured the mood. Bitcoin fell below $30,000 after May’s rout. The recovery since then has seen the value of more than 9,000 digital tokens tracked by CoinGecko reach about $2.2 trillion from $1.2 trillion a month ago. Catch all the Latest Tech News, Mobile News, Laptop News, Gaming news, Wearables News , How To News, also keep up with us on Whatsapp channel,Twitter, Facebook, Google News, and Instagram. 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