Altcoins Hit New Highs After Bulls Push Bitcoin Price Back Above $ 50K
Cryptocurrency investors breathed a sigh of relief on April 26 as the sharp reversal in the price of (BTC) was accompanied by a market-wide recovery with a majority of altcoins in green. It is likely that the breakout was facilitated by bullish valuations by analysts at JPMorgan Chase (NYSE 🙂 and by PayPal’s announcement that demand for the purchase of cryptocurrencies had exceeded expectations.
Data Cointelegraph Markets and TradingView shows that after rebounding nearly $ 47,000, Bitcoin returned above the support level of $ 50,000 and climbed above $ 53,500, while Ether (ETH) collected $ 2,500.
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