Bitcoin finally did it. It has reached long-sought and even longer-dreamed price of 50000 US$. Like in many previous instances when such important records had been smashed it happened after previous brief flirt with such price, unconfirmed by major crypto exchanges. Today, however, was different story. New record was not only reached, but actually confirmed by major crypto and even some mainstream media.
Bitcoin's entry into the land over 50000 US$ was, however, just like in many similar instances, followed by even faster departure. Bitcoin spent there probably less than 10 minutes and new spectacular red candle brought the price to what it had been for most of the day.
It is relatively easy to explain why all this happened. Just like 10000 US$ last summer and 20000 US$ at the end of past years, 50000 US$ represents major psychological boundary which is never easy to push. When the desired price level was reached, multitude of sell orders, made probably weeks, months or even some years ago, was started to get filled. It would take some time for the dust to settle and all those expecting price to move to 60000 US$ and 75000 US$ would probably have to wait a little bit longer.
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