By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
The GenerationThe GenerationThe Generation
  • USA
    USA
    Show More
    Top News
    Dad charged with murder after 10-year-old son dies in rollover crash, TX officials say
    September 4, 2023
    Claudia Goldin wins 2023 Nobel economics prize
    October 11, 2023
    Marijuana Smoke May be Harmful to Health, Can Affect Your Heart
    November 2, 2023
    Latest News
    Trump, Noem Vow to Prosecute CNN for Reporting on ICE App, Iran Strike
    July 6, 2025
    Tesla Shares Sink After Trump-Musk Feud Reignites
    July 5, 2025
    The Fourth of July: The Meaning and Promise of Freedom
    July 4, 2025
    House Passes Trump’s ‘Big Beautiful Bill’ After All-Night Debate
    July 3, 2025
  • New York
    New York
    Show More
    Top News
    Bangladeshi Actor achieve international in US
    October 26, 2023
    NY District Cancels Classes After Multiple Fights Break out at Same Time at High School
    November 24, 2023
    Winter Weather Arrives As NYC Migrant Crisis Worsens
    December 20, 2023
    Latest News
    For many South Asian and Muslim New Yorkers, Zohran Mamdani’s Political Upset Gives them hope
    July 5, 2025
    Mamdani Emerges as NYC Mayoral Front-Runner — Poll Shows Socialist Beating Cuomo, Adams, and Sliwa
    July 4, 2025
    Kathy Hochul’s Re-election Prospects Clouded by Voter Uncertainty and Republican Challenges
    July 2, 2025
    Mamdani Responds to Trump’s Deportation Threat: “We Won’t Accept This Intimidation”
    July 2, 2025
  • Politics
    Politics
    Show More
    Top News
    Joe Biden Plans To Ban Logging In US Old-growth Forests In 2025
    December 26, 2023
    Donald Trump Ranked As Worst US President In History, With Joe Biden 14th
    February 29, 2024
    Lawmakers Say They Should Analyze Protests Response
    May 31, 2024
    Latest News
    Harvey Epstein, Virginia Maloney Win City Council Democratic Nominations In Manhattan Districts 2 And 4
    July 6, 2025
    Americans at July 4th Celebrations Warned of Lone Wolf Terrorist Threat
    July 6, 2025
    Trump Says Migrants Would Need To Know ‘How to Run Away From an Alligator’ to Flee Florida Facility
    July 6, 2025
    Trump Says He’ll ‘Arrest’ Mamdani Over Potential ICE Interference, Praises Adams’ Reelection bid
    July 6, 2025
  • World
    World
    Show More
    Top News
    Arab League slams Israel siege of Gaza, demands aid for Gazans
    October 12, 2023
    Bangladesh hands over humanitarian aid to Palestine
    October 31, 2023
    Hezbollah’s anti-ship missiles bolster its threat to US navy
    November 9, 2023
    Latest News
    Murder or Mystery? Monir Mia Found Dead, Police Silent
    July 3, 2025
    Iran’s Nuke Site Shows Activity After US Bombing
    July 5, 2025
    Qatar Proposes 60-Day Gaza Ceasefire, Hostage Swap: Israeli Media
    July 5, 2025
    G7 Urges Talks To Resume For Deal On Iran Nuclear Programme
    July 5, 2025
  • Finance & Business
    Finance & Business
    Show More
    Top News
    How Banks And The Fed Are Preparing For A US Default – And Chaos To Follow
    September 3, 2023
    Corporate Greed is not to Blame for High Inflation, SF Fed Says
    June 16, 2024
    Latest News
    Corporate Greed is not to Blame for High Inflation, SF Fed Says
    June 16, 2024
    How Banks And The Fed Are Preparing For A US Default – And Chaos To Follow
    September 3, 2023
  • EpaperNew
Search
  • About Us
  • Our Awards
  • My Bookmarks
  • Opinion
  • Crime
  • Science & Technology
  • Entertainment
  • Sports
  • Economy
  • Fashion
  • Election
  • Feature
  • Charity
  • Literature
  • Security
  • US & Canada
  • Nature
  • Cooking
Copyright @2023 – All Right Reserved by The Generation.
Reading: Bitcoin Breaks $50,000 For First Time Since 2021
Share
Notification Show More
Font ResizerAa
Font ResizerAa
The GenerationThe Generation
  • USA
  • New York
  • Politics
  • World
  • EpaperNew
Search
  • Crime
  • Economy
  • Election
  • Entertainment
  • Opinion
  • US & Canada
  • Finance & Business
  • Charity
  • Cooking
  • Fashion
  • Feature
  • Literature
  • Nature
  • Science & Technology
  • Security
  • Sports
Follow US
  • About Us
  • My Bookmarks
Copyright @2023 – All Right Reserved by The Generation.
World

Bitcoin Breaks $50,000 For First Time Since 2021

Published February 26, 2024
Share
2 Min Read
SHARE

Tuesday, February 13, 2024
Year : 2, Issue : 7

Bitcoin spiked above $50,000 Tuesday for the first time in more than two years as investors grow optimistic that US approval of broader trading in the unit will ramp up demand.

The cryptocurrency has enjoyed a strong run in recent months, fuelled by expectations US lawmakers would allow the creation of exchange-traded funds (ETFs) that track the price and let the public invest in crypto without directly purchasing it.

After initially dropping in reaction to last month’s green light by Washington, bitcoin has rallied about 25 percent since January 22.

That advance saw it hit as much as $50,328, according to Bloomberg data, its highest level since late 2021. And observers were optimistic about the outlook.

By 0330 GMT Tuesday, bitcoin had dropped slightly, to $49,950.

The currency remains well below its record value of almost $69,000 in 2020, but the rally marks a recovery following a series of high-profile scandals and collapses that rocked the crypto industry.

FTX, the world’s second-biggest crypto exchange, dramatically went under last year, and its boss Sam Bankman-Fried faces up to 110 years in prison for what prosecutors described as “one of the biggest financial frauds in American history”.

And in November, Changpeng “CZ” Zhao stepped down as CEO of Binance — the world’s biggest crypto exchange — after he and the company pleaded guilty to sweeping money laundering violations.
Bitcoin has also been boosted by hopes that the US Federal Reserve will start to cut interest rates this year as inflation eases. The asset’s value has been driven by the supply crunch expected next year because of an event called “halving”. Bitcoin is created — or “mined” — as a reward when powerful computers solve complex problems.

But the amount of bitcoin is limited and every four years, the reward is halved. The next “halving” is due in May.

Source: AFP

You Might Also Like

Murder or Mystery? Monir Mia Found Dead, Police Silent

Iran’s Nuke Site Shows Activity After US Bombing

Qatar Proposes 60-Day Gaza Ceasefire, Hostage Swap: Israeli Media

G7 Urges Talks To Resume For Deal On Iran Nuclear Programme

Thailand Constitutional Court Suspends PM

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share This Article
Facebook Twitter Whatsapp Whatsapp Copy Link Print
Previous Article How Much Snow Did NYC And The Tri-State Get?
Next Article Gunman Kills Three At Greek Shipping Company

Stay Connected

1.2kFollowersLike
13kFollowersFollow
1.2kFollowersFollow
1.4kSubscribersSubscribe

Latest News

Trump, Noem Vow to Prosecute CNN for Reporting on ICE App, Iran Strike
USA July 6, 2025
For many South Asian and Muslim New Yorkers, Zohran Mamdani’s Political Upset Gives them hope
New York July 5, 2025
We Must Not Forget: The Tragedy of Holey Artisan
Opinion July 5, 2025
It’s Not About Faith—It’s About Division: The Politics Behind India’s Conversion Debate
Opinion July 5, 2025
Here’s What The Democrats Can Learn From Zohran Mamdani
Editorial July 5, 2025

Quick links

  • About Us
  • Our Awards
  • My Bookmarks

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

Editor
Sadia J. Choudhury
Executive Editor
Shah J. Choudhury, Mubin Khan & Salman J. Choudhury
Member of Editor’s Board
Husneara Choudhury, Fauzia J. Choudhury, Santa Islam & DevRaj A. Nath.

A Ruposhi Bangla Entertainment Network

By

Office Address
New York Office:
70-52 Broadway 1A, Jackson Heights, NY-11372, United States.
Contact
Tel: +1 (718) 496-5000
Email: info@thegenerationus.com
newsthegeneration@gmail.com
The GenerationThe Generation
Follow US
Copyright @2023 – All Right Reserved by The Generation.