The prices of Bitcoin have once again begun a new growth after they broke the resistance of $48,000. After this BTC has successfully managed to gain momentum as well as surpass the resistance of $49,400. In addition, Bitcoin has also traded at its new all-time high that is approximately $49,975 along with the ongoing consolidating gains.
On the other hand, most of the other important altcoins have been indicating major signs of increased gains. For instance, ETH/USD is again back on top with $1,800. Nonetheless, it should be made clear that $1,830 is for additional gains. Also, XRP/USD has also been increasing gradually and might even soon try to break through the level of $0.600.
Bitcoin Price Level On The Up
Following the very quick and strong recovery of more than $48,000. The price of Bitcoin has achieved a bullish momentum. At the present moment, BTC is up by more than 5% as well as spiked above the level of $49,000.
In addition, Bitcoin has also been trading at its record high of $49,975. However, there has been no test for their extraordinary aim of $50,000. At present. BTC is trying to consolidate their gains as well as it appears that the bulls can possibly make another try to clear through the whopping $50,000 mark.
Nonetheless, the concern at this moment is that the preliminary support is inching closer to the level of USD 49,000. Their first significant support will be near the level of $48,500. After this, the price might potentially decline below the level of $48,000.
In short, BTC price has a bullish pattern and has positive chances of hitting the barrier of $50,000 very soon. In case Bitcoin does that it will be able to move towards $52,000.
