Bitcoin has surged past the $50,000 mark for the first time in over two years!
The cryptocurrency's price reached a high of $50,188, gaining more than 4% on February 12, 2024.
This significant milestone has been attributed to various factors, including the excitement over spot Bitcoin exchange-traded fund (ETF) inflows and the anticipation of the upcoming Bitcoin supply halving in April. The price rally has been characterized by the absence of retail traders fear of missing out (FOMO) and high leverage, which is seen as a positive indicator for Bitcoin's sustained growth.
The surge in Bitcoin's price has also had a positive impact on the broader cryptocurrency market, with various crypto-related stocks and assets experiencing gains. The sustained path above $50,000 has occurred in the absence of excessive leverage and FOMO from retail investors, indicating a more stable and sustainable price increase.
The Binance Word of the Day for February 12, 2024, is "Risk Detection." It is a game that allows users to test their knowledge on a given topic and earn Binance Points, which can be used to redeem various rewards.All eligible users will equally share a pool of 500,000 Binance Points, which can be used to redeem up to 10 USDT token vouchers and up to 50 USDT trading fee rebate voucher at the Rewards Hub.
To participate, users can find the WOTD on the Binance platform, uncover crypto-related words hidden within a letter grid, and earn points based on the length of the words successfully decoded. The points can then be converted into Binance redemption vouchers and other cryptocurrency prizes.
New users who register for a Binance account using the “WOTD2024” referral code or via a specific referral link will receive 10% off their spot trading fees and may qualify for additional welcome rewards by completing tasks available at the Rewards Hub within 14 days after registration.