Bitcoin again rose to near the $50,000 level, US business activity slowed for the third month in a row

Bitcoin once again topped $50,000 on Sunday but quickly dropped below it. Currently, it has managed to regain some strength and came back to $49,645. It was the first time in 3 months that it reached such a high level. Some recent news has been quite positive to support its growth. Last week, Coinbase announced to buy $500 million in crypto on its balance sheet. On Monday, PayPal said it would launch the digital currency business in the UK to let people buy, hold, and sell cryptocurrencies.

US business activity growth slowed down for the third month in a row in August. According to the survey from IHS Markit, PMI Output Index, which measures the manufacturing and services sectors, fell to 55.4 from 59.9 in July. Manufacturing PMI slid to 61.2 in August from July’s 63.4, missing the forecast at 62.5. Major reasons are capacity constraints, supply shortage, and the Delta variant.