Bitcoin was struggling to crack the heavy resistance level at $48k for the past month. Now, BTC is back on track in high-speed moving towards $55k while crossing the $52k level already. This seems to be the sweet spot for the BTC users, where $55k is not too far for BTC to reach soon. Although Bitcoin cracked the $50,000 level since September 7, capturing the green signal in the price chart with a bullish month start over.
Significantly, Bitcoin’s price has surged nearly 6% in the last 24-hours where it was dragging below $50k for the past whole month. With the bearish pattern of September, the crypto market has lost more than 20% of its value since the start of the month. The current trading price of Bitcoin is $52,549 which has bounced 25% up within a week presenting a green signal for all its users.
According to Rekt Capital, a market Analyst mentions that BTC is comfortable staying above the 21-week EMA presenting bullish momentum. As per the prediction for October, BTC started with a bullish-signal and may continue for the rest of the year.
Bitcoin’s price surge has also been predicted as BTC supply on centralized-exchange fell to a new-low which gave a significant chance to another sell-off. Besides, market watchers predict that BTC’s price might reach $100,000 by the end of 2021 if no major sell-offs being occurred.
Bitcoin’s Bull Run Towards $55K
Bitcoin has already cracked the $50,000 level and is now establishing a strong support level before the next price barrier at $55,000. The final quarter of the year might be essential for BTC as investors are in a state for a bull or bearish run.
When the price of BTC cracks the $55k level then it might have a chance to hit above its previous all-time high at $64k. Besides, BTC’s current track above $52k has resulted in a surge of market cap to $900 billion. Moreover, as a result of the recent shutdown of Facebook, the market cap value of Bitcoin surpasses the value of Facebook.
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