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United States: Netanyahu leaves the White House after he meets with Trump without making any statement.
Sources from Mehr News Agency: The Americans have requested, through intermediaries from various countries, the continuation of negotiations with Iran
Mehr News Agency, citing sources: The Iranian Foreign Ministry is considering a US request to continue negotiations after they failed to halt Iran's nuclear capabilities
Al Mayadeen's correspondent: Five martyrs and several wounded after the occupation targeted a group of civilians in Al-Rimal neighborhood, west of Gaza City
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Hamas: Hamas: The slogans of "crushing defeat" and "total eradication" of the movement have collapsed in the face of explosive tunnels and the Resistance’s ambushes
Hamas: 640 days into the aggression, the occupation has utterly failed to break Gaza’s will or subdue its resistance
Iranian FM spokesperson denies Trump’s claims about Iran requesting a meeting with the US: We have made no such request to the American side
OHCHR: We have concerns that Nasser's arrest is part of efforts to eliminate legitimate forms of Palestinian expression
Al Mayadeen's correspondent: Six killed or injured in Israeli drone strike on displaced persons’ tents in Sanabel camp, al-Mawasi, west of Khan Younis

Bitcoin crosses $50,000 mark, records two-year high

  • By Al Mayadeen English
  • Source: News websites
  • 13 Feb 2024 08:57
2 Min Read

The cryptocurrency extends its February gains with an 18% markup on value in just 7 days.

  • x
  • Bitcoin cross $50,000 mark, records two-year high
    A person holding a visual representation of the digital cryptocurrency Bitcoin on February 6, 2018. (AFP)

Bitcoin continued its staggering upward climb, hitting a two-year high on Monday, after reaching $50,280 during the day marking a 4.5% increase, before settling at $50,200 at almost 4:00 pm.

Throughout the past 7 days, the cryptocurrency jumped 18% in value, scoring its highest value since December 2021.

At the beginning of 2023, Bitcoin's trading figure was at $16,500, before soaring 160% throughout the rest of the year to over $44,000 by December.

Read more: US bonds vs Bitcoin: Markets seem to prefer the latter for investments

The US Securities and Exchange Commission approved spot Bitcoin ETFs on January 11, allowing financial institutions and investors to trade the virtual blockchain token without owning it.

Related News

Bitcoin tops $105,000 before slipping back in volatile 2025 trading

Bitcoin falls over 5% to $81K after US tariff announcement

Ethereum also experienced a 5.6% increase, reaching $2,640 after the provision, whereas certain other alternative cryptocurrencies witnessed a surge in value of up to 17%.

$1.4 trillion erased in 2022

In November 2021, Bitcoin hit a record high of almost $69,000, but nearly $1.4 trillion was erased from the market in 2022 due to sector bankruptcies which came after the collapse of FTX, the world’s second-largest crypto exchange at the time. But the latest upward price momentum pushed Bitcoin's market capitalization towards the $1 trillion threshold, a milestone that hadn't been achieved since.

Read more: Russian Bitcoin supplier to build state-of-the-art center in Ethiopia

According to data from CoinMarketCap, the combined value of the cryptocurrency market increased by 3.85% to reach $1.87 trillion, with Bitcoin's dominance, representing its share of the crypto market, standing at 52.6%.

A report by CNBC last December, citing industry analysts, said that cryptocurrency top-dog Bitcoin is anticipated to keep surging in 2024, to possibly all-time highs of over $100,000 per token.

Read more: Binance sees surge in withdrawals as CEO pleads guilty, fined $4Bln

  • Bitcoin
  • Ethereum
  • Cryptocurrency
  • altcoin

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