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Bitcoin Hits 3.5-Month High Over $50K as Ether Tops $4K

Cryptocurrency markets were supported by a new wave of optimism on Friday as Bitcoin soared to over $ 50,000 for the fourth straight day and Ethereum (ETH), a unique sign of the Ethereum blockchain. Passed. Psychological level of $ 4,000.
Bitcoin, the largest cryptocurrency by market capitalization, appears to have received a new boost from a report showing flaws in US employment growth on Friday. The report raised speculation that poor economic data could sustain the Federal Reserve’s $ 120 billion monthly program longer than expected.
Some investors say the US Federal Reserve Board’s accommodative monetary policy will curb returns on traditional market assets such as bonds and enhance the appeal of Bitcoin and other fast-growing cryptocurrencies. I’m guessing.
Bitcoin rose to $ 50,940 on Friday, changing hands by about $ 50,700 during the press. This is the highest price since May, but well below the high of about $ 65,000 reached in April.
Ether, the world’s second-largest market capitalization, rose 4.9% on Friday to reach $ 4,000 for the first time since May. The price rose to $ 4,025 and then fell to $ 3,960 at the press.
The resurgence of non-fungible token (NFT) activity and interest in profitable decentralized finance (DeFi) tokens have also contributed to the rise in ETH prices.
Ether surpassed Bitcoin this year, quintupling its price and bringing its market capitalization to about $ 465 billion. That’s about half of Bitcoin’s $ 950 billion market capitalization.