1 August 2026
5 Reasons Why BTC Price Hits $50K For The First Time Since May
It's the first time bitcoin surged above the $50,000 mark since May 15. CryptoQuant- verified analyst has stated the top five reasons that might have triggered the rise of the Bitcoin price.
The five reasons shared by Crypto analyst @darek_sc are as follows:
1. The first reason in his list is the recovery of the Bitcoin hashrate after the recent crypto mining ban in several Chinese provinces.
2. Fear and Greed index showing extreme fear leading to weak hands selling Bitcoin.
3. Bitcoin futures market short squeeze that took place between 21st July - 26th July.
4. Bitcoin large-scale purchases on centralized crypto exchanges.
5. The cryptocurrency miners have reduced their selling pressure on the bitcoin market since 17th May.
Moreover, the analyst is expecting the leading cryptocurrency, Bitcoin (BTC), to rest in the price range in the $48,000 - $49,000 area and then to rise above $57,000.
Also, Paypal, the payment giant, has announced today its plans to extend its crypto services in the United Kingdom. The users in the UK can buy Bitcoin, Ethereum, Litecoin, and Bitcoin Cash in the near future. PayPal is also collaborating with the UK- based regulators to acquire permission to fulfill its promises concerning crypto.
Disclaimer: The author’s views and opinions are for informational purposes only and do not constitute financial, investment, or other advice.
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