After falling below $100 in June, the price of bitcoin has blasted through $43,000, reaching the highest price since May. The surge in price comes as economic data from China and the US showed that the world is healthier than ever before—a point that propelled bitcoin to break through its previous record. One of the catalysts behind the surge is the US Federal Reserve’s decision to raise interest rates in June. In its statement, the Fed made it clear they were ‘attempting to normalize the stance of monetary policy’. For the record, bitcoin’s price today is now at $43,200, and the cryptocurrency is still heading higher.
Bitcoin is soaring to new heights today. The price of Bitcoin (BTC) hit a new all-time high of $43,000 at around 2:30 pm UTC today, according to data from the Coinbase exchange. The cryptocurrency has now reached its highest price since May of $43,000.
Bitcoin price jumped more than 10% on September 8, 2018 to more than $43,000 per coin. With the world’s largest cryptocurrency now in the limelight again, it’s time to ask whether this is the start of a new bull market or just a temporary uptick.. Read more about bitcoin price prediction and let us know what you think.
On August 6, Bitcoin’s (BTC) price surged to a multi-month high of $43,231 allowing the digital currency to break out of a trading range it had been locked in since May.
According to data from Cointelegraph Markets Pro and TradingView, bulls launched a rebound on Friday morning after trading sideways during the early morning hours, pushing the price of Bitcoin (BTC) to an intraday high of $43,231, the highest level since May 19.
4-hour chart of BTC/USDT. TradingView is the source of this information.
Numerous experts predicted a greater rise this week because several indicators flashed positive signs, including a cross-over between two moving averages that previously occurred before the 2020 bull market and measures that indicated substantial accumulation driven by whales and regular investors.
According to pseudonymous analyst Rekt Capital, Bitcoin’s surge to $43,210 was a significant milestone for its price since it was the first time BTC was able to break out of a multi-month trading range.
According to Rekt Capital,
“BTC has effectively claimed the 200-day exponential moving average (EMA) as support, a long-term indicator of market sentiment toward BTC. BTC has also successfully claimed the 21-week exponential moving average (EMA) as support, which is a bullish market sign. The market is beginning to become bullish.”
The total cryptocurrency market capitalization is currently $1.719 trillion, with Bitcoin commanding 46.2 percent of the market.
After a big drop in December, Bitcoin’s price has exploded over the last 24 hours, from $36,000 at press time to $43,100, and most of this gain occurred over the last couple of hours. A large part of the gains came from a sudden surge in the price of Bitcoin Cash, which is now trading at over $2,000 for the first time since January.. Read more about bitcoin halving price prediction and let us know what you think.
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