Bitcoin price breaks above $50,000 for first time in 100 days

Bitcoin’s price has climbed up above $50,000 for the first time in over three months.

The world’s largest cryptocurrency by market capitalization reached the $50,000 threshold on early Monday UTC time and is now changing hands at around $50,200. The last time bitcoin’s price hovered above $50,000 was around mid May.

The price move follows a sustained overall market recovery over the past few weeks after bitcoin plunged to just below $30,000 in July.

Bitcoin’s market overall market capitalization is once again inching towards the $1 trillion threshold, sitting at $936 billion, data from CoinGecko shows.

Meanwhile, Ether’s price has also jumped above $3,330, the highest point since mid-May.