Bitcoin (Bitcoin) Let traders play a guessing game on Thursday, because $50,000 as the new support looks increasingly unstable.
Cryptocurrency sees “spectacular” September
Data from Cointelegraph Markets Pro with Transaction view Track BTC/USD as it crisscrosses after returning to the $50,000 mark for the first time in nearly two weeks.
The largest cryptocurrency rose by 4.5% on the day, but nonetheless, three of the top 10 altcoins all exceeded 7%.
Against a generally positive background, it is understandable that traders are optimistic about the prospects of Bitcoin.
“Break through 50k = 58-60k to follow. Sitting above the 200D MA, now acting as support,” Pentoshi Summarize Twitter fans.
“What is your price discovery plan? Three times higher than these highs seems reasonable, about 180k. You will not create new things for a 10% profit. You are about to break through the last range.”
The BTC price of $180,000 is a strange prospect for many people, even surpassing even more optimistic people Minimum target of $135,000 The end of 2021 set by PlanB, the creator of inventory to flow.
“So far, September has been a spectacular month for Crypto,” trader Rekt Capital Add to.
As Cointelegraph Report, The first two days of this month are in sharp contrast to the historical normal in September, which has always been Dull month For the cryptocurrency market.
Looking ahead, institutional reports may make the coming weeks even more interesting.
Mike Alfred, the founding CEO of BrightScope & Digital Assets Data, said: “Many large and important institutions bought Bitcoin in the summer.” famous.
“They will announce their purchase between September 7 and November 19. Enjoy the fireworks.”
Cryptocurrency suspends earnings at all-time highs in Cardano
Among altcoins, Cardano’s Have Token and Ether (Ethereum) At the time of writing, they are also taking a break from their own bullish wave.
related: MicroStrategy stock is bullish as MSTR becomes a Bitcoin “agent” for institutional investors
ADA/USD hit an all-time high earlier in the day, while ETH/USD was close to 3,800 USD-the highest level since May.
As Cointelegraph emphasized this week, Polkadot’s DOT is considered the next altcoin to watch Main gains.