The crytocurrency’s price hit an intraday high of $50,255.67 this afternoon, CoinMarketCap figures reported.
In 2023, the digital asset smashed through the $30,000, $40,000 and now $50,000 levels, after falling below $20,000 in 2022.
While bitcoin prices have enjoyed compelling gains over the last several months, long-term sentiment measures have shown even more improvement, according to figures provided by cryptocurrency analytics provider The Tie, FORBES reported.
The digital currency’s long-term sentiment recently hit a value of 61.38, its highest since 2022, data supplied by The Tie show.
The aforesaid measure is calculated by analyzing Twitter/X conversations over the last 50 days to see how positive or negative they are and then comparing that result to what happened over the last 200 days.
Any score that exceeds 50 indicates that the aforementioned conversations have been more positive over the last 50 days as opposed to the prior 200 days, and a score below that point indicates the opposite, the report added.