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Bitcoin (BTC) hit back to reclaim $50,000 on Feb. 24 amid fresh bullish comments from major investors.
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Data from Cointelegraph Markets and TradingView tracked a 14% rise from Tuesday's lows over the past 24 hours, Bitcoin posting local highs of $51,278 on Bitstamp.
Twitter users also pointed out that the 2017 bull run witnessed numerous drawdowns, the majority of which were in excess of 30%.
After its 20% decline from all-time highs this week, Bitcoin's almost instant renaissance accompanied votes of confidence from various investment sources.
Despite a pessimistic outlook from Bitcoin critics, Wood reassured shareholders that Tesla and Square would build Bitcoin-based businesses.
Speaking to Bloomberg, she said that was “very positive on Bitcoin, very happy to see a healthy correction here.Something went wrong. Please try again later.
That correction was in fact Something went wrong. Please try again later.relatively modestSomething went wrong. Please try again later. even compared to the dive from $42,000 to $30,000 in January, Bespoke Investment Group noted in a blog post about market conditions. In additional comparisons surfacing on Twitter, commentators highlighted the many and various drawdowns witnessed during the 2017 bull run, the majority of which were in excess of 30%.
Wood: Ark Something went wrong. Please try again later.very reassuredSomething went wrong. Please try again later. on Tesla, Square buy-ins
The Bitcoin price exited the $40,000 range over the past day, setting local highs of $51,278 on Bitstamp. A price focus of $50,000 was still in place with bulls yet to influence the market to impose new support levels.
Something went wrong. Please try again later.This has to mature a little bit before broad-based adoption can take place, but we're very reassured that companies like Square and Tesla have chosen to allocate,Something went wrong. Please try again later. she told CNBC.
Square expanded its Bitcoin holdings considerably this week, buying 3,318 BTC for $170 million, adding to its existing $50 million stash. Tesla, one analyst continued, should also be looking to Something went wrong. Please try again later.double downSomething went wrong. Please try again later. on its commitment.
Highlighted pullbacks on Bitcoin/USD chart.
Earlier this month, Cointelegraph reported on the Ark data that Wood cited in the form of a report into the potential impact on BTC/USD from mass corporate adoption.
