Btc holding $50k is a very big thing amid dollar gains happened yesterday that made btc erase all its gains, but what a comeback! I think the 'somewhat bearish' phase of btc was rolled out to spread FUD in markets but today's investors are very smart that they are not selling in this FUD. I was skeptical about btc reaching $40k and less but now as $50k level is broken back, we will see a rush in btc buying taking it over $65k.
This time Bitcoin gaining momentum and crossing $50k isn't a big thing, this is much expected and predicted move of experts. As said FUD is spread around, but the market hasn't reacted to it. This has been happening as a result of more and more corporate network getting into the cryptospace. This could've been a big thing if it has dropped low to $40k and made a recovery crossing $50k. This time the bull market is completely different and the bull trend is predicted to last for a much longer time in a much stabilized way.
Big companies are still buying bitcoin, so I really don't think we will experience a massive drop here. The support is quite strong above 40k level. The adoption is different this time, and I believe this pandemic brought a lot of positives for crypto. Now, they are realizing that crypto is very good alternative in the payment system. People want to avoid using fiat, and one option now is to use crypto. I hope to see more merchants include crypto in their payment system. PayPal already have done their part, and I think, that was a good call from their side. They just need to change their approach in crypto.
