The Bitcoin bulls were able to drive the price back above $ 50,000. Numerous analysts now expect further jumps upwards.
Bitcoin seems to want to break out
Bitcoin demonstrated strength again tonight: shortly after midnight, cryptocurrency number 1 moved from $ 48,750 in a near-vertical $ 1,000 candle to $ 49,800. Then, in the early hours of the morning, the bulls managed to push the lead currency to over $ 50,000.
As a result, BTC rose up to $ 50,300, but has since faced slight declines. Bitcoin is currently trading for a correction at $ 50,136-but hopes are high that resistance at $51k will be tackled next. How likely is it to happen? View spoiler: If it goes according to popular analysts, Bitcoin now expects fireworks.
Popular crypto analyst @Crypto_birb already sees Bitcoin’s recent price action as confirmation of the coming surge to $ 53,000 – $ 58,000, as he tells his more than 350,000 Twitter followers notify. Industry observer TeddyCleps comments euphorically:
“Waking up with Bitcoin above $ 50,000 is definitely better than Christmas.“
Waking up with $ BTC above 50,000 is definitely better than Christmas.
– NFTeddy (@TeddyCleps) September 2, 2021
Bitcoin before the price explosion like Ethereum?
The highly regarded trader RookieXBT, on the other hand, sees similarities with Bitcoin to Ethereum two days ago – before the rally that brought Ethereum from $ 3,300 to $ 3,700. Is BTC experiencing a similar price explosion?
– RookieXBT 🧲 (@RookieXBT) September 2, 2021
For example, the technical chartist @CryptoHornHairs expects this. He shares with his nearly 60,000 followers a graph that shows Bitcoin rising directly to $ 56,000 when it breaks above $ 50,000. For this he writes:
“BTC above $50k leads to rapid movement to $ 56k imo”
– HornHairs 🌊 (@CryptoHornHairs) September 2, 2021
Professional trader Michaël van de Poppe (@CryptoMichNL on Twitter) expect even with an increase to $ 57,000 – before that, however, Bitcoin must” take the last hurdle ” and exceed $50k.
“The Crypto Dog,” one of the industry’s Top 10 Analysts with Nearly 600,000 Followers, comments Bullish:
“You know this confirms new all-time highs for BTC in 2021, right?“
You guys know this confirms $ BTC new all time highs 2021, right?
– The Crypto Dog📈 (@TheCryptoDog) September 2, 2021
If Bitcoin’s move above $ 50,000 does not prove to be a temporary slip and the lead currency does indeed succeed in establishing itself here, a teleport-like rise into the mid – $50k range awaits us shortly.
Last updated on September 2, 2021
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