To Infinity And Beyond? The Price of Bitcoin Breaks Another Barrier

Bitcoin has reached its new all-time high after the price of BTC smashed through the trading resistance barrier and highly favoured the bullish trends. The bull investors have a victory lap over this BTC trend.

The price of BTC has smashed yet another important resistance barrier in order to reach the recent all-time high price of above $60k, and it seems that the bullish trend has not ended yet.

BTC was struggling to break the level of $58k in the recent past, and the price of BTC was hovering around this point for quite some time. Every time the price of BTC got near to the mark of $58k, it started falling back due to the mismanaged purchasing and selling of the investors or some activity by the whales.

The price of Bitcoin has finally broken its key resistance and has now been valued at a price of over $61,246, currently the highest price of Bitcoin ever. This price of the BTC came after a 7.86% increase in the price of daily trade and a massive 23.3% increase in the price of weekly trades. If we look closely at the weekly trend of BTC, it indicates that the trend of BTC has been consistently upward with just a few corrections along the way.

Whalemap is a BTC analyst firm. The research group at Whalemap has observed that Bitcoin’s consistent rise has also been seen in the past ten years with a few bullish cycles. They analyzed the graphic data and came to the conclusion that this is apparently not the highest price that BTC will attain in its current bull run. This means that we can expect a further rise in the prices of Bitcoin.

The analysts and experts say that if the current upward trend of BTC continues and stays consistent in the future with the help of the whales and the investment firms, it is very much possible that the BTC will break another key resistance and hit a new ATH. The experts, however, have suggested that it might be difficult for BTC to break the next resistance as it is stationed around the area of $72k. Bitcoin could hit $100k if it is able to break this resistance.

Leave a Reply

Your email address will not be published.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