The cryptocurrency leader continues to emerge from a deep slump that has lasted for months. For the first time since May, the price of bitcoin exceeds $50,000.

Cryptocurrencies are having another exceptional week. Bitcoin rose at a steady pace throughout the weekend, before breaking that low on Sunday evening according to data from CoinDesk. This is the first time bitcoin has hit this threshold since May 15. Other currencies also rose. Indeed, Ethereum was up more than 3%, while dogecoin was up nearly 2%. The cryptocurrency is also getting a boost after PayPal made an announcement on the latter. It said it was going to allow users to buy, hold and sell four types of cryptocurrency in the UK. Including bitcoin, ethereum, litecoin and bitcoin cash.