Bitcoin Blasts Through $50,000 For The First Time Ever

 Bitcoin (BTC), the world’s Alpha cryptocurrency, hit a new all-time high above the $50,000 mark, late Monday. Large firms like Tesla, Mastercard and BNY Mellon have shown support for cryptocurrencies.

The coin hit a new height of $50,210.66, as per data from Messari, and had retreated to $49,402 as of press time, up 5.69% over 24 hours.

Several altcoins are posting gains too, with Ethereum (ETH) trading above the $1,800 mark, up 5%, at press time. Cardano (ADA) traded 11.9% higher at $0.876 and Polkadot (DOT) was up 10% at $28.33.

Bitcoin had dropped as low as $46,414.51 earlier in the day amid a panic sell-off. Six cryptocurrencies posted over 100% gains in the last week. Bitcoin and Ethereum can be traded at Coinbase.com