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Wednesday, April 21, 2021

Bitcoin Price Inches Closer to $50K, Aavegotchi, Theta Reaches Record High

Mainnet Launches as well as new partnerships have successfully managed to drive up a few of the altcoins to record highs. On the other hand, Bitcoin bulls are gearing up to make their price reach the mark of a whopping $50,000.

The bulls of Bitcoin seem to have got unprecedented momentum since the price has managed to regain the level of $49,000 within the past 1 hour.

Bitcoin On Bullish Momentum

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On the 2nd of March, Bitcoin prices had declined to a $47,000 low. Nonetheless, BTC has been trading presently over its 20-day rolling average price. In addition, the bulls might possibly make one more try to flip the resistance of $50,000 in order to support as well as sustain the high volume surge that might send their price to a high of $52,000. Attaining this high price will consolidate the bullish momentum and put Bitcoin in an authoritative seat.

Despite struggling to attain the regular close of more than $50,000, BTC has a stable series of favorable activities that keep coming their way frequently.

Kevin O’Leary, ‘Shark Tank’ actor and businessman, had earlier called BTC a huge fluffy nothing but has recently shown that his portfolio has 3% investment in BTC along with future plans of investment for a mining operation that is sustainable.

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Conventional markets are facing challenges since 2nd March although Monday rally indicated a steady recovery. The Dow, S and P 500, and NASDAQ all concluded 2nd March being in red and down by 0.41%, 0.74%, and 1.69% respectively. At the same time, the 10-year yield of the US Treasury continues its decrease after the surge last week.

Theta spiked by almost 15.31% reaching $3.70. Aavegotchi also increased 15% and hit their all-high of $1.79.

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