Bitcoin Price Breaks 50,000, Bitcoiners Brace For New All Time Highs
Early this morning the Bitcoin price broke $50,000 again, the highest price seen since Bitcoin’s correction in May.Early this morning the Bitcoin price broke $50,000 again, as it did on August 23rd, which was then the highest price seen since Bitcoin’s correction in May. After the dip, the Bitcoin price hovered between 30-40k for most of the summer. Although it’s impossible to say for certain, many are projecting the price to significantly appreciate from here to close out the year. Recall that just one year ago today, the Bitcoin price was sitting at around $10,174. In 2017 the Bitcoin....
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The rejection of lower prices after the climactic drop in early August assuaged trades. Despite the welcomed recovery, Bitcoin bulls are yet to build on the momentum and break above the local resistance levels. Even so, traders are optimistic, expecting buyers to take charge and resume the uptrend set in motion in Q1 2024. In their forecasts, more analysts think any breakout above $72,000 and July highs could spark a wave of demand that may see Bitcoin record fresh all-time highs above $73,800. Bitcoin Breaking To All-Time Highs Will Take Time Taking to X, one trader, pointing to....
Bitcoin bulls must overcome a major hurdle before new all-time highs can come back into play. Bitcoin (BTC) has seen a turbulent past few days after Elon Musk showed support for the cryptocurrency amid the GameStop fiasco on the equity markets. However, since that tweet, Bitcoin’s price has been correcting after the entire push through Elon Musk was retraced.Since then, Bitcoin’s price is facing a crucial hurdle at the $35,000–$35,200 area before an all-time high test. Once that area breaks and flips for support, continuation toward a new all-time high is likely. Bitcoin doesn’t hold $35K....