Bitcoin suddenly exceeds $ 51,000 on Christmas day

Markets
ASX near six weeks high after Santa’s meeting
ASX near six weeks high after Santa’s meeting
The new crypto has a busy market
The new crypto has a busy market
The collapse of the currency signifies the future of crypto
The collapse of the currency signifies the future of crypto
Bitcoin investors have rebelled against a good Christmas gift with a blockchain that hits the top two weeks.

After a few difficult weeks, BTC continued to surpass the key mark of US $ 50,000, selling US $ 51,144.62 (A $ 70,800) at its 14-hour high, according to CoinDesk.

Bitcoin has had a few difficult weeks, down 33 percent after reaching a high of about US $ 69,000 (A $ 95,000) on November 10.

Since then, the coin has been around the US $ 45,000 mark – US $ 48,000 – spending more than US $ 23,000 on its value.

But coin appears to be on the rise in the last week of the year, exceeding 4 percent in just the past two days. Last week, it increased by eight percent.

And as a market leader, Bitcoin pulls in other cryptocurrencies as well

Coin Market Cap top 10 is on the list of digital assets most trades in the green.

Ether, the traditional cryptocurrency of Ethereum blockchain and the second largest in total, has grown significantly by one percent in the last 24 hours and 3 percent in the last seven days.

Cardano increased by 4 percent a day and 16 percent a week.

The Ripple XRP was not far behind, with a daily gain of 1.3 percent and a weekly increase of 11.4 percent.

Following the news of the Bitcoin price crisis, Bloomberg cited a technical study showing that if the value of the coin rises slightly, huge profits could be on the horizon.

According to research, the $ 53,000- $ 55,000 token is important for bitcoin because it is a way to test the strength of the token and can encourage another meeting.

The current $ 51,000 Bitcoin mark exceeds the price levels experts have warned they could send the price to in a free fall.

Earlier this week, Bitcoin was approaching a dangerous price level with experts warning that if it dropped below US $ 44,200, it would be sunset, depending on how investors react.

Katie Stockton, founder of US investment firm Fairlead Strategies, said US $ 44,200 could be a “support level” for cryptocurrency – meaning the demand could increase because lower prices are attractive to consumers but not so high that traders will lose their money. tokens.

However, if bitcoin continues to fall above that price, “significant long-term support at the lower end of the week will likely be tested, at around $ 37,000,” he told Bloomberg.

It is doubtful that the support will stick to that price and could lead to a huge sale.

Another well-known investor, Louis Navellier, earlier this month described US $ 46,000 as a “yellow flag” signaling a further decline in prices.

“I will drop below US46,000 (moving average for 200 days) to become a yellow flag and drop below 28,500 in the spring to become a double double peak, indicating a decrease of less than $ US10,000, which could be similar to a further decline -80+ in its stately history,