Altcoins hit new highs after bulls kick Bitcoin price back above $50K
Cointelegraph
Published Apr 26, 2021 05:50PM ET
Updated Apr 26, 2021 07:20PM ET
Cryptocurrency investors breathed a sigh of relief on April 26 as the sharp reversal in the price of Bitcoin (BTC) was accompanied by a market-wide recovery that has a majority of altcoins seeing green. It's likely that the breakout was aided by bullish assessments from JPMorgan (NYSE:JPM) analysts and PayPal's announcement that demand for purchasing cryptocurrencies had surpassed expectations.
Data from Cointelegraph Markets and TradingView shows that after bouncing off a low near $47,000 on Sunday evening, Bitcoin roared back above the $50,000 support level in the early trading hours on Monday and climbed above $53,500 by mid-day while Ether (ETH) reclaimed $2,500.
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Written By: Cointelegraph
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