Bitcoin Breaks Through $48,500
Main page News, Bitcoin, Crypto Market

On Tuesday, March 2, bitcoin (EXANTE: Bitcoin) is continuing recovering by climbing above the $48,000 mark. As of press time, BTC/USD is trading at $48,924 (+2.32%).

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Chart of the USD/BTC trading pair from EXANTE

Ether (ETH) also surges by 3% up to $1,571. Meanwhile, cardano (ADA) slightly decreases by 2.76% and is now trading at $1.24. Analysts at FxPro say such a rapid rebound happened thanks to the approval by the US House of Representatives of Joe Biden's $1.9 trillion coronavirus aid bill. This impulse was enough both to return the growth of the stock market, and also affected cryptocurrencies by the domino effect, the analysts added.

Citibank Sees Start of Bitcoin Transformation into Mainstream

As iHodl earlier reported, Goldman Sachs is restarting its cryptocurrency trading desk as hype on the market becomes more obvious. The US bank tried to launch the cryptocurrency desk back in 2018, but had to put on hold plans due to regulatory uncertainty over the cryptocurrency market.

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