in

This Is Why October 27th May Be Important for Bitcoin Price Rally! – Coinpedia – Fintech & Cryptocurreny News Media

Bitcoin Price Could Resume Bull Run Only If It Hits These Levels


Bitcoin is now on war footing momentum towards its new ATH. The crypto industry has dealt with the lows for a brief period of time, ever since its crash mid-year. The coins have been rising from the odds at a steady pace. BTC price brushed close to the levels of $63,000, for the first time in ~5-months.

BTC at press time values at $62,626.31, with gains for the last 24-hours around 2.9%. The star crypto rose to $62,911.48 a couple of hours ago and recorded the highest ever weekly close after the mid-may crash. While the trading volume for the past 24-hours stood at $32,946,715,689

The digital gold of the crypto industry is over ~30% since El-Salvador gave $30 to every citizen. Meanwhile, substantial reports suggest that. The amount of Hodled or lost coins has reached a 9-month high of 7,215,532.022 BTC

What Next Post-BTC’s New ATH?

The digital coin will have to stick to its level of $62,000, as it remains the crucial zone for BTC’s next leg-up. Consecutively, the support zones for BTC are in the range of $60,000 to $59,000. While the resistance ranges from $64,000 to $65,000. A breakthrough from the new ATH could possibly take BTC to the next milestone of $68,000. 

However, traders might have to err on the side of caution. As the space peaks at extreme greed, on the fear and greed index currently. We can expect BTC to retest its prices around the ATH levels. Moreover, the speculations of Evergrande’s default remains a concern across exchange markets.

The approval of Bitcoin futures ETF from ProShares has inundated the faith in BTC amongst investors and traders. Resulting in the recent up-trend of the coin. Consecutively community members have pinned high hopes over the possibilities of the approval of more ETFs. Speculations of which are on the 27th of October. We can expect, BTC to head towards its milestone of $100k if things fall into place.



Source link

Leave a Reply

Your email address will not be published.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

GIPHY App Key not set. Please check settings

What do you think?

Cardano(ADA) Price May Go 10x, Traders This Could Be Just A Start Of A Monster Rally

Cardano(ADA) Price May Go 10x, Traders This Could Be Just A Start Of A Monster Rally

The First Ever Bitcoin Futures ETF in the USA to Debut on Tuesday

The First Ever Bitcoin Futures ETF in the USA to Debut on Tuesday