TD;LR Breakdown
- Bitcoin experiences price surge.
- Bitcoin reclaims losses from the past week.
- Bitcoin price tipped to surpass ATH of $58,000.
The price of Bitcoin experienced a surge today as it rose from yesterday’s mark of $49,000 to well above $51,000. This increase is coming at the back of a week when Bitcoin prices experienced a huge instability.
The past few days witnessed a bearish trend in the price of Bitcoin, with its price slipping down to $43,000 after it had previously hit an all time high of $58,000.
Bitcoin Reclaim Losses
The fall in the price of Bitcoin in recent weeks has left the market vulnerable with the price of BTC experiencing about 25% loss in value. This occurrence was somewhat consistent last month after the world’s leading cryptocurrency brokered well under the acceptable ascending-price-channel.
However, with the gains BTC has made in recent days, it is expected that the cryptocurrency will once again reclaim the value lost in market cap.
Bitcoin Price To Rise Above $58,000
With the current increase in the price of Bitcoin over the past 48 hours, many analysts have suggested that the cryptocurrency is on its way to exceed the previous ATH of $58,000 set in February. These analytics are in line with previous ones predicting that the cryptocurrency will exceed the $48,000 and $50,000 marks.
Moreso, the formation of the current bullish thrust and the current resistance levels, has seen many brokers suggesting that Bitcoin’s price is well on its way to exceeding previous successes and it is expected that this will happen in a few day’s time.
Meanwhile, several bullish investors have voiced their support for Bitcoin with individuals like Shark Tank’s Kevin O’Leary (Mr. Wonderful) and Gary Gensler (SEC chair nominee) coming out to lend their support to the recovering cryptocurrency.
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Source: https://www.cryptopolitan.com/bitcoin-price-now-above-51000/
