After the price of bitcoin corrected from an all-time high above $58,000 to around $45,000, institutional investors apparently purchased the dip. The price of Bitcoin is recovering from a slump which earlier this month saw the cryptocurrency losing around 20 percent of its value. After going up 2% in the last 24-hour period, Bitcoin is trading at $50,800 at press time. Even after Federal Reserve chairman Jerome Powell told markets that monetary policy will proceed.