Bitcoin Touches Highest Level Since May to $50,000

The price of the digital currency "Bitcoin" increased by 1.99% to reach $49,498, the highest since May 16,  according to the "CoinDesk".

The biggest cryptocurrency reached as high as $49,704, on Saturday. Its rally is overcoming a rare April low of about $47,000.

The price of "Bitcoin" fluctuated by 4.9%, as it is traded between $48,307 and $49,449. The price of the currency reached the level of $64,870 last April, the highest level ever.

Bitcoin has recovered after trading between $30,000-40,000 for several weeks, dropping from a record near $65,000 in mid-April.

"Global crypto has risen some 881% in the past 12 months," according to Chainalysis. The currency added 6.8% to its value last week and is up 70% in 2021.