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Whiplash: Bitcoin's See-Saw & Bets of US$50K on "Halving"

This week, Bitcoin extended its downward trend since it briefly traded above $30,000 earlier this month for the first time since June last year.

Photo by Kanchanara / Unsplash 

Bitcoin is climbing back toward US$30,000, extending a recent bout of volatility which took the largest cryptocurrency to a four-week low earlier in the week.

Ether, too, has lost momentum since a highly anticipated software upgrade last month. It fell last week, marking the first time it's dropped in four weeks.

On Thursday, the most sizeable token encountered a 3.7% surge. However, it soon relinquished some gains and last traded at around US$29,055.

Concurrently, other smaller tokens like Ether, Cardano, and Avalanche also observed an upswing.

On Wednesday, Bitcoin saw a remarkable surge of 7.3%, which unfortunately did not last long as its momentum fizzled out quickly, causing it to fall back into negative territory.

This is common in cryptocurrency, as prices can be incredibly volatile and often leave investors feeling uncertain.

In the aftermath of Wednesday's intraday decline, a great deal of conjecture was circulating among financial circles.

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