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Bitcoin Broke Through $50K For The First Time Since Mid-May

Mary Liu

Summary: According to the data from the Bitpush terminal, Bitcoin broke through $50K for the first time since mid-May. As of press time, Bitcoin changed hands at around $50,579, but it is still well below the all-time high near $65,000 set earlier this year. Ethereum, the world's second-largest cryptocurrency, rose 5% on Friday, briefly rising to $4,000 ...

According to the data from the Bitpush terminal, Bitcoin broke through $50K for the first time since mid-May. As of press time, Bitcoin changed hands at around $50,579, but it is still well below the all-time high near $65,000 set earlier this year.

Ethereum, the world's second-largest cryptocurrency, rose 5% on Friday, briefly rising to $4,000 for the first time since May. As of press time, the trading price is $3,976.

A loose monetary policy is good for the rise of the crypto market. The August employment data in the United States fell short of expectations. The report sparked market speculation that the recent weak economic data may prompt the Fed to continue to maintain a loose monetary policy and will not stop its $120 billion monthly asset purchase plan earlier than expected.