Bitcoin hit three big milestones this week

It’s been a blinder of a week for Bitcoin. The pioneering cryptocurrency reached 500 million transactions, and now its daily transactions are hitting levels not seen in the past five months. To top it all off, BTC has wiped out over 45% of its 2019 sell-off in the space of just seven weeks.

The price of Bitcoin has been on an upward stride lately. In 2020 alone, BTC has managed to add over 40% to its price point—advancing from a yearly low of just under $7000 to a current price of approximately $9800. Now, with a dual-month rally under its belt, Bitcoin has succeeded in writing off almost half of its 2019 losses.

Following a parabolic advance in April last year—with Bitcoin topping out at around $13,880—2019’s price slump was unrelenting. The flagship crypto went from reclaiming the majority of its 2018 losses to a lowly base of $6,900 come November. Nevertheless, its triumphant rebound has all but erased the losses of last year, with Bitcoin on the threshold of breaking…