Bitcoin hits US$50,000 for first time in four weeks

Bitcoin, the world's biggest cryptocurrency by market value, rose above the $50,000 mark for the first time in four weeks.

LONDON: Bitcoin, the world's biggest cryptocurrency by market value, rose above the $50,000 mark for the first time in four weeks on Tuesday, adding to a series of gains since the start of October.

The cryptocurrency fell below that level on Sept 7 amid a broader selloff in shares of cryptocurrency and blockchain related firms that day. It continued to fall in September, hitting a low of $40,596 on September 21.