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Wednesday, April 21, 2021

Bitcoin Reaches $50K, Goldman Sachs & Citigroup Takes Bullish Outlook

MicroStrategy, Citigroup, and Goldman Sachs have been revealing their bullish maneuvers which is an indicator of the various factors that support the rally of Bitcoin to reach the $50,000 mark as soon as possible.

The investors of cryptocurrency had suddenly woken up on the 1st of March 2021 to witness the upwards journey of BTC once again after the low weekend correction path of $44,000. On the other hand, the market also saw their bullish momentum as well as the rebound of the altcoins from their swing lows.

Bullish Investors Of Bitcoin

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The reports of TradingView and Cointelegraph Markets have revealed that the Bitcoin price has increased by 16.6% after sliding to a $43,504 low on 28th February and recovered to the level of $50,000 that has been made possible owing to the attempts of the bulls who have been flipping back in order to support BTC.

Towards the beginning of 2nd March, Michael Saylor, CEO of MicroStrategy had tweeted that they had acquired an additional BTC worth $15 million. Following this purchase, their BTC holdings are 90,859 and indicated a growing institutional demand for cryptocurrencies.

The analysis of the important price indicators of Bitcoin also reveals that bulls seem eager to purchase the retests of $43,000 that happened during the weekend. The spike of BTC over $49,000 witnessed record highs that might happen very soon.

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Goldman Sachs made an announcement today that they will begin their desk of crypto trading again. Altcoins have also rebounded from recent losses after the BTC price exceeded $50,000.

Binance performed the best with 21% growth to $248. Ethereum experienced a 9.46% surge and touched $1,525 while Fantom and PancakeSwap prices rallied by 36% to hit $0.558 and $12.30 respectively.

The entire market cap of cryptocurrency is $1.52 trillion while BTC has a 61% dominance rate.

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