The cryptocurrency market turned bullish on Tuesday, with the market capitalisation gaining 3.7 percent to reach $2.8 trillion as of 1340 hours GMT. Bitcoin, the largest cryptocurrency, broke above the crucial psychological threshold of $50,000 for the first time since September 7. The price of bitcoin (BTC) gained 4.36 percent to reach $50,040. With this increase in price, the market capitalisation of the biggest cryptocurrency has reached $942.5 billion. Likewise, ether (ETH) price went up by 1.71 percent to reach $3,450. With this increase in price, the market capitalisation of ETH has reached $404.9 billion. Similarly, XRP price gained 1.23 percent to reach $1.06. The market capitalisation of XRP stands at $106.3 billion after this increase. Similarly, cardano (ADA) price gained 0.66 percent to reach $2.23. Its market capitalisation has surged to $72.2 billion after this increase. Following suit, dogecoin (Doge) price gained 4.97 percent to reach $0.242. With this increase in price, the market capitalisation of doge has reached $31.8 billion. According to experts, the latest surge in bitcoin appears to lead a broad rally in cryptocurrency prices. They said it is too early to say whether this will turn into a new support level in the short term, but it is clear that the overriding market view is bullish.