Bitcoin prices topped $50,000 for the first time in three months Monday as the cryptocurrency has steadily made up ground since slumping earlier in the year
The cryptocurrency recently traded at $50,200, up about 2.4% from where it sat 24 hours ago, according to CoinDesk.in mid-April and then tumbling alongside other digital currencies. After skidding to a low of $29,608 last month, bitcoin has soared 70%.
A surge of retail investor enthusiasm had helped bitcoin soar in the first few months of the year. But prices then took a hit after a series of setbacks, including Tesla Inc. saying it would
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