Bitcoin Rises 5% to $51,711, Ether Increases

Share post:

Bitcoin gained 5.01% to $51,711.21 on Tuesday, closing at $2,469.07 above its previous closing price.

Similarly, Ether, the coin linked to Ethereum’s blockchain network, rose 4.54% to $3,537.56, adding $153.68 to its previous closing price.

The latest development showed that Bitcoin has passed the $50,000 mark for the first time in four weeks.

Market participants and experts, however, believe that the recent turn in events in Bitcoin and other cryptocurrencies is being facilitated by the increase in institutional crypto services provided by banks and financial institutions, which are moving to meet investor demand, increase investment flows, and, undoubtedly, more supportive statements by regulators toward the cryptocurrency.

CoinDesk said Tuesday that Bitcoin posted a 25% gain and Ether a 32% gain in the third quarter.

Kraken Intelligence, a research blog run by the Kraken cryptocurrency exchange, showed that the fourth quarter of 2021 remains the best quarter in Bitcoin history, with the cryptocurrency posting average and median returns of 119% and 58%, respectively.

For more information, read the original story in Reuters.

Featured Tech Jobs


Related articles

US Bill Aims to Unveil AI Training Data Sources Amid Copyright Concerns

In a significant move toward transparency, a bill was introduced in the US Congress on Tuesday by California...

Code Breakers – Hashtag Trending, the Weekend Edition, Saturday April 6, 2023

Welcome to Hashtag Trending The Weekend Edition. I'm your host, Jim Love When I was a kid, I was...

Lawsuit requires Pegasus spyware to provide code used to spy on WhatsApp users

NSO Group, the developer behind the sophisticated Pegasus spyware, has been ordered by a US court to provide...

OpenAI claims New York Times manipulated ChatGPT “fabricate data”

OpenAI has challenged the New York Times' copyright lawsuit, asserting the newspaper manipulated ChatGPT to fabricate evidence. The...

Become a member

New, Relevant Tech Stories. Our article selection is done by industry professionals. Our writers summarize them to give you the key takeaways