Bitcoin’s price has passed $50,000 for the first time in its history. The cryptocurrency is up more than 1,000% this year and hasn’t looked back since hitting an all-time high of $19,783 on December 16th.
The bitcoin price prediction is a topic that will be interesting to watch today. Many people are predicting the bitcoin price to pass $50,000 before the end of the year.
Updated at 7:44 a.m. on October 5, 2021 ET
A day after a selloff among big technology companies pulled down wider indices, Bitcoin is on the rise and stock futures are higher. As we prepare for Tuesday’s trading day, here’s what we’re keeping an eye on.
- According to CoinDesk statistics, Bitcoin’s dollar value surpassed $50,000 for the first time in a month, gaining 2.2 percent to $50,120.50 from its 5 p.m. ET level Monday. Cryptocurrency company stocks rose as well, with Coinbase COIN -0.80 percent Global up 1%. Each premarket, bitcoin mining firms Hut 8 Mining and Marathon Digital Holdings MARA 1.39 percent climbed more than 2%.
Bitcoin miners’ stocks were rising in tandem with the cryptocurrency.
Bloomberg News/Bloomberg News/Michael Nagle
- Facebook FB -4.89 percent shares are up 1.2 percent in premarket trading after the social media giant restored services that had been down for up to six hours on Monday, disrupting access for users and companies all around the globe. On Tuesday, Facebook whistleblower Frances Haugen will appear before Congress.
- Amplify Energy AMPY -43.83 percent shares recovered more than 6% in premarket trading Tuesday after dropping almost half their value the day before. After a large oil leak at the firm’s platform off the coast of Orange County, Calif., over the weekend, Amplify, a Houston-based oil and natural-gas business, said it had shut down all of its production and pipeline activities in the region as a precautionary measure.
- After reporting quarterly results and announcing that its chief operating officer will become CEO, Comtech Telecommunications CMTL -2.98 percent had its stock drop more than 12 percent premarket.
- In premarket trading, shares of Duckhorn Portfolio NAPA 1.38 percent rose more than 5% as the winery’s financial outlook for the current year exceeded Wall Street estimates.
- PepsiCo PEP -0.50% shares climbed 1.2 percent after the food-and-beverage firm reported higher sales but lower profit in the most recent quarter as it navigates a turbulent supply-chain and cost environment.
- Brent oil, the worldwide benchmark, climbed 1.2 percent to $82.24 a barrel, its highest level since 2018. This boosted energy company stock prices. Shares of Occidental Petroleum OXY 2.12 percent increased by 1.9 percent, while Marathon Oil MRO 4.14 percent increased by 2.5 percent.
- Saratoga Investment SAR 0.70 percent will report earnings after the market close.
The Day’s Chart
- Cotton futures are at their highest level in over a decade, with increasing Chinese demand being matched in part by increased U.S. exports to China, a curious side effect of Trump’s trade policy.
Caitlin Ostroff can be reached at [email protected]
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Ethereum is the 2nd largest cryptocurrency in the world. It has a market cap of $28 billion and a price per unit of $1,200. The ethereum price will be interesting to watch when it opens today.
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