фото показано с : zycrypto.com

The world’s most valuable crypto asset soared to a new lifetime high this morning after breaching the psychological 50,000 hurdle on Tuesday for the first time ever. The crypto asset set a record high of $51,500  on Wednesday after a sudden upsurge last night from the $48K region.

The OG cryptocurrency pierced $25,000 for the first time in late December 2020. This means that its price has doubled in less than eight weeks and the crypto’s record-breaking run is showing no signs of slowing down.

Meanwhile, most crypto enthusiasts are filled with optimism at the moment. Some have posited that the cryptocurrency has officially entered a historic “parabolic advance”.

The latest price milestone was reached a day after business intelligence firm MicroStrategy announced that it is planning to add to its BTC warchest yet again. In particular, MicroStrategy revealed that it would sell $600 million worth of convertible notes and use the proceeds to purchase bitcoin.

With bitcoin now at $51,000, the crypto asset’s market capitalization has crossed $958 billion. The dormant crypto is now the world’s sixth-largest asset by market cap, according to data from AssetDash. 

Additionally, bitcoin is also outshining gold. Hodlers of the precious alloy could also be thinking about jumping ship. A German-based strategist recently pointed that gold prices have been nose diving while bitcoin sets records.

Looks as if #Bitcoin is eating #Gold. While the cryptocurrency hit fresh ATH >51k, Gold has dropped <$1800. pic.twitter.com/sCorEFrV2f

While it remains to be seen whether the unprecedented rally past the $50K barrier will be sustainable, analysts believe bitcoin has entered a new price discovery phase.

In a Feb. 17 tweet, chartist and veteran trader Peter Brandt indicated that bitcoin is now in its third “parabolic advance”, captioning the chart that can be seen below.

Big picture $BTC
Bitcoin is undergoing its third parabolic advance in the past decade. A parabolic advance on an arithmetic scale is extremely rare – three on a log scale is historic pic.twitter.com/fyyM5Ws6N5

When asked where he estimates the bottom would be should the current parabolic movement be violated, Brandt noted that “80% corrections are most common”.

Bitcoin’s price is now steadily in uncharted waters. This is the very first time the crypto asset has been worth more than $51K. With the arrival of well-known Wall Street investors and some of the world’s biggest companies like Tesla, good times for bitcoin holders are likely to keep rolling. 

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