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Sought-after currency:
Bitcoin now appears to be stabilizing above the $ 50,000 mark
Photo: KAREN BLEIER / AFP
After its rally the day before, the cryptocurrency Bitcoin remains above the $ 50,000 mark on Saturday.
Most recently, the cyber currency was quoted on the Bitstamp trading platform just under 1 percent higher at $ 50,400.
On Friday, the Bitcoin price had temporarily risen above $ 51,000 for the first time since May.
At its peak, the price of the oldest and largest cryptocurrency rose to $ 51,033.
Bitcoin has been growing significantly since mid-July.
At that time it had fallen to around $ 30,000.
However, the crypto currency is still a long way from its record high of just under $ 65,000, which was reached in mid-April.
Ether increases by more than 4 percent
The price gains on Friday for the second most important cryptocurrency, ether, were even more pronounced.
The price of Ether climbed above $ 4,000 for the first time since May.
In the course of the day it rose by over 4 percent.
Experts pointed to the weak employment trend in the USA in August.
"Arguments were taken from the US Federal Reserve to end its ultra-loose monetary policy earlier than planned," commented analyst Timo Emden from Emden Research.
Cryptocurrencies are a popular hedging and diversification instrument and could therefore benefit from a loose monetary policy.
The total value of all cryptocurrencies rose to $ 2.29 trillion, according to the Coinmarketcap website.
mg / dpa-afx
