Bitcoin's (BTC) price has managed to <a href="https://coinmarketcap.com/currencies/bitcoin/" target="_blank" rel="nofollow noopener">reclaim</a> the $50K mark after making the lows of $29K in the month of June. It has gained back over 72% since then and after the reclamation of the $50K mark, it can be said that another bull market is on the way.
<h2>Bitcoin Price Surges, BTC Reclaims $50K Mark</h2>
On Sunday, the price of Bitcoin even managed to touch $50,270 on some exchanges marking a 3% gain for the day.

As of now, the total market capitalization of the largest cryptocurrency stands at $943 billion. 

Moreover, the on-chain metrics suggest that a supply squeeze may be impending, with long-term investors and institutions accumulating more in their holdings while the price of Bitcoin remained at a discount. 

Bitcoin Fear &amp; Greed Index, the one which is based on the sentimental analysis conducted with multiple factors in consideration has flipped from <a href="https://www.cryptoknowmics.com/news/fidelity-executive-jurrien-timmer-suggests-no-more-dips-on-btc-crypto-market-exits-extreme-fear/">extreme fear</a> to extreme greed in the market within a month.

The total market capitalization of the crypto market has surged above $2.2 trillion, while back in the month of July when bears were in power, it slipped below $1.3 trillion.
<h2>Altcoins Following the lead of Flagship Cryptocurrency</h2>
Seeing the bullish momentum and the rise in the price of the flagship cryptocurrency, Bitcoin (BTC), other coins in the market have also started imitating its chart patterns.

At the time of writing this article, <a href="https://www.cryptoknowmics.com/news/cardano-ada-coins-reach-all-time-high-as-rally-reaches-new-heights/">Cardano</a>, Polkadot, Solana are all marking double-digit gains for the week.

The rise in the price of Cardano is also due to the Alonzo hard fork that its blockchain is awaiting. However, it is expected that the rally is going to be continued after Bitcoin crosses the $50K mark as it acted as a resistance level for the currency.

All the investors who invested their money in these cryptocurrencies when there was extreme fear in the market and the prices were low have almost doubled their money in a matter of weeks.

Bitcoin (BTC) Price Touches $50K, Fear &amp; Greed Index Shows Extreme Greed

Bitcoin (BTC) price has managed to reclaim the $50K mark after making the lows of $29K in the month of June, marking a 72% gain.

Sahaj is an aspiring journalist with a keen interest in cryptocurrency and the whole concept of Blockchain technology. He is positive about the future potential of Cryptocurrency and Blockchain in shaping the world of finance for good. At present, he is covering the latest developments in the field of the cryptosphere.

Bitcoin (BTC) Price Touches $50K, Fear & Greed Index Shows Extreme Greed

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