An illustration showing physical bitcoins next to the binary code displayed on a laptop.
Jakub Porzycki | NurPhoto via Getty Images
Bitcoin approached $ 50,000 as it continues to rebound after months of weakness
The world’s largest digital currency by market value amounted to $ 49,821 on Saturday afternoon in New York, according to Coinbase data. It was trading at $ 48,876 at 10 a.m. ET on Sunday.
The recovery comes after Bitcoin traded at a price of between about $ 30,000 and $ 40,000 in recent months. It had fallen from a record nearly $ 65,000 by mid-April.
Ether, the currency linked to the blockchain network ethereum, also rose recently, reaching $ 3,295 early Saturday, according to Coinbase.
Global adoption of cryptocurrencies among individual investors has increased significantly over the past year, according to Chainalysis, a blockchain data company. Global adoption of cryptography increased by approximately 881% last year.
According to data from CoinGecko.com, the limit of the global cryptocurrency market was $ 2.16 trillion, and the trading volume of cryptocurrencies on the last day was $ 109 billion.