For the first time since May, Bitcoin’s price rose above $50,000
The world’s largest cryptocurrency surged to $50,341
The hike is 81% since hitting a yearly low of $27,700 in January
Investors believe bitcoin would attract other gains in the future
Meanwhile, the price of Ether rose 2.8% to $3,337
The recovery stems from more established financial services firms accepting the virtual currency
One such instance is PayPal
It would allow customers in the UK to buy, sell and hold cryptocurrencies from this week onwards
