Bitcoin Rises to $ 50,000 After Weekend Consolidation: Analysis
Bitcoin jumped to $ 50,000 after price consolidation over the weekend, with a rise after the sudden crash in early December as we could see more in our latest bitcoin news today.
Bitcoin jumped to $ 50,000 on Sunday around noon after rising to $ 40,000 in a week. As of early October, most bitcoins have surpassed $ 50,000, indicating an ongoing bull market, but bitcoin’s rapid collapse due to significant leverage has surprised some. People and even $ 1.79 billion in BTC were liquidated in an hour, making it worth $ 47,000 on Friday. Bitcoin analyst CryptoValerio saw a pattern in recent cryptocurrency volatility and compared BTC’s price structure to 2020. His charts show that Bitcoin’s price model has changed. It is written:
“You will understand how emotions influence most of an investor’s trading decisions. Because it always leads to the same market patterns and structures. This allows us to compare them and draw conclusions about the likelihood of their recurrence. ”
53K is also my sandy stream.
Flip it over and we’re back in business. https://t.co/MZtpXNirWp
– Will Clemente (@WClementeIII) December 12, 2021
Bitcoin jumped pretty much to $ 50,000 and was perceived as upbeat news, but this could not break any hesitation regarding further declines or continued price stagnation.
According to online analyst Will Clemente and analyst Pentoshi, BTC needs to surpass $ 52,000 to generate new growth.
Bitcoin consolidation continues as the asset still can’t get past the $ 50,000 price point and the rest of the altcoins are economically unstable, with the exception of Terra and Cardano. Cardano is up 6%, while LUNA is up the same percentage. The mainstream cryptocurrency has shown increased volatility in the past few days as it tries to break above $ 50,000 several times, but every time it tries to budge it faces a significant pullback due to bear volatility.
Detailed emotional comparison of the post-Covid-19 situation and the current situation (November 21) for #BTC … This analysis is performed on a weekly timeframe for # Bitcoin!
It may take a few minutes to read this topic. But it’s worth it! pic.twitter.com/hmrDEid5yM
– Valerio (@CryptoValerio) November 24, 2021
The latest example comes on Friday after it was revealed that the United States had reached its highest inflation rate in about 40 years. On the other hand, BTC just hit $ 50,000 and fell instantly. As a result, BTC is trading below $ 47,000 for the third time in a week, but recovered well yesterday when it began a new rise to $ 50,000 a few hours ago. The cryptocurrency is currently unbreakable, has a value in excess of $ 49,000 and has a market capitalization of just under $ 950 billion. and if you want to check the real time value of BTC you should take a look at the bitcoin price calculator.