Getting More Attention, Bitcoin Will Be Near $ 50,000? - Kakiforex.com - Financial Market Media No. 1 in the World Getting More Attention, Bitcoin Will Be Near $ 50,000? Getting More Attention, Bitcoin Will Be Near $ 50,000?
InstaForex

August 9, 2021

Getting More Attention, Bitcoin Will Be Near $ 50,000?

 Bitcoin has seen some solid progress in recent times, penetrating the wide price range traded since May and then repeatedly rising up to the $ 45,000 level.


The world's most prominent digital currency has hit a recent high of $ 45,310, producing a 6% jump ending yesterday's trading session.


Bitcoin is currently producing a 21% jump in the August trading session.


Recent sentiment has affected the price of Bitcoin after Brazil launched an ‘Environmentally Friendly’ Bitcoin ETF.


Some crypto analysts predict Bitcoin will hit $ 50,000 in the near future.


Interesting if seen on the current movement chart of the BTC/USDT price.



The BTC price movement has continued to see a drastic surge in recent times with the latest highs recorded yesterday.


From a technical point of view, the BTC price movement is seen hovering below the resistance zone around $ 44,000- $ 45,000 to regain the upward momentum.


Crypto analysts expect that if the price movement manages to regain the upside, the resistance zone around $ 44,000- $ 45,000 will be tested first before being broken and the price will continue to rise higher to record the latest highs.


However, if the price movement remains with a bearish pattern, the price movement will retest the RBS zone (resistance become support) around $ 41,000 before making a decline to the level, lower or it is just a retracement.


At the time of writing, BTC/USDT is trading at a price of around $ 43,420 down over 1% in the last 24 hours.