Bitcoin Surpasses $50,000 After Almost Two Weeks , as Market Move Towards the Year End

The cryptocurrency market is cooling off at the moment, with Bitcoin going down by about $4,000 in just a few hours today. Experts say that this shows the markets are ready for an end-of-year rally as investors take profits from their investments and prepare to buy more next year. Whether it’s too late or not will be decided on December 31st.,

The “if i invest $5,000 in bitcoin today 2021” is a question that has been asked many times. The price of Bitcoin has risen by almost 4,000% since the beginning of 2017 and it is expected to continue its upward momentum through the end of the year.

After over four days of re-accumulation, the world’s most valuable cryptocurrency, Bitcoin, has finally crossed the $50,000 mark.

Bitcoin now has a market capitalization of $50,000.

Bitcoin is now trading at $51,235, up 6% in the previous 24 hours. The crypto-giant, on the other hand, has experienced a week-on-week increase of almost 8%.

Bitcoin’s latest price behavior is the result of a four-day re-accumulation phase. Bitcoin continued to rise after reaching a low of $45,579 on December 20th, and reached a high of $51,506 only hours before press. Bitcoin topped $50,000 for the first time in over two weeks.

Most notably, despite a small uptick in price, Bitcoin is still down 10% in the previous 30 days. This is a fairly sloppy depiction of the situation.

The Volatility of Bitcoin

The overall volatility of Bitcoin is another element to consider. Since the second week of December, Bitcoin has consistently swapped hands between $46,000 and $49,000, seldom breaking over with a move of less than $3,000. As a result, Bitcoin is presently in bearish territory, with higher lows and higher highs being caused by the bulls.

As an example, consider the 30 days between the first week of November and the first week of December. During that time, Bitcoin reached a high of $68,789. The lowest point was $46,581, a difference of more than $12,000. By no means does this imply that Bitcoin’s bull cycle is ended, but the outlook is bleak at the moment, as noted above.

While some technical analysis predicts a further rise to the upside, others point to significant resistance levels between $53,000 and $55,000.

A Quick Overview

With the new year just a week away, it’s a good time to take a look back at how Bitcoin has done this year in comparison to people’s expectations. To summarize, most market experts believed, at the start of the year, that Bitcoin will certainly break the $100k price threshold by the end of 2021. However, it seems to have turned out to be a far-fetched prediction. Bitcoin has yet to break the $70,000 price barrier. The reality of the issue is that market experts must be a bit more realistic when making projections.

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Bitcoin has been on a steady rise in value for the last few weeks, and now it’s reached $50,000. The cryptocurrency market is moving towards the year end as well. Reference: crypto news.

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