Price Analysis of Bitcoin Triggers the Bearish Run that has Caught up with Bitcoin Once again as it Takes a Fall from $60k

Breaking the $60k limit was nothing short of a marvel for Bitcoin that it had to break for the sake of keeping up with the rising tensions of the crypto market while at the same time keeping the rust of the investors intact into the digital asset. This is something that Bitcoin did successfully as the bullish run was with it, and it did break through the $60k with a little perseverance, but this success was rather short-lived. 

No one could predict in reality the outcomes of the next second rather predicting what trends are going to fling with Bitcoin the very next day. So, what happened next was that Bitcoin took a severe reverse and landed around $58k. From there, it had to reclaim its $60k position, but after these many days, it couldn’t and has today settled for the daily low of $55.5k.

Despite such a massive fall that made investors liquidate a large portion of Bitcoin, the digital asset seems to be trading above the short-term ascending trend line from early March. For the sake of dictating the next move of the crypto market, Bitcoin has to maintain itself between $55.5k-$57.5k, and then it would have to try its best for the sake of claiming the $60k price point once again.

Bitcoin Might Break off the All-time High if it Catches the Fling of the Bullish Run

Currently, Bitcoin is riddled with the bearish trend that is taking its flight in the downward direction; not only is it not suitable for investors but the crypto market itself. Currently, nothing can be done but to watch the trigger price numbers for Bitcoin that would indicate the next move it is going to make; among these numbers, there are a few that are even above the $60k price point, which suggests that the market might take a rash direction once again putting Bitcoin to an all-time high once again and other altcoins following in the same path as Bitcoin.

The bearish run is now with Bitcoin, and it might stay there for some time, but then again, nothing can be said for sure as after a few days, the bullish run might return, pushing the flight of Bitcoin to new price horizons.      

Leave a Reply

Your email address will not be published. Required fields are marked *