Home Cryptocurrency After a Longest Bullish Movement This Year, Bitcoin Return Back to $40,000 Price Mark

After a Longest Bullish Movement This Year, Bitcoin Return Back to $40,000 Price Mark

by Serge Shlykov

The price of Bitcoin has been mostly heading upwards in the last couple months, with some of the biggest gains coming in mid-October. However, the price has slid back down to just below $40,000, which is seen by many as an indication that the price is going to continue to move upwards.

In February, BTC made a bullish movement from $5,000 to $6,000. On April 11, it made a bullish move again, from $6,000 to $8,000. But, by June 10, it fell again to $6,000 before regaining $7,000 on August 1. On September 2, it fell again from $6,000 to $5,000, and it finally reached the $4,000 mark on September 27. The current price is $4,000.

After the Bitcoin price surpassed the $6000 mark in mid August, the price crashed down to $4000 in the following month of September. Then the price stabilized at the $5000 mark for the longest time since mid May. Looking at the current market conditions, this is the lowest it has been since mid December.. Read more about bitcoin price prediction end of 2021 and let us know what you think.

Bitcoin’s price has surpassed $40,000 for the first time. After a robust day of gains, Bitcoin (BTC) hit $40,370 on July 27, marking the return of a significant price milestone.

Throughout the day, the pair held onto earlier gains from the previous night, hovering around $38,000, until a fresh rise began when Wall Street opened.

After six weeks of pacing between $30,000 and $36,000, BTC price was hovering around $40,000 barrier again in two days. According to the crypto community, the increasing involvement of conventional banks and entrepreneurs like as Elon Musk and Michael Saylor is directly responsible for the soaring BTC price.

Elon Musk and Michael Saylor have emerged as two of the bitcoin world’s most influential personalities. The TIE and eToro USA have collaborated on a new sentiment-driven study that shows the scope of their impact.

The reported interest in cryptocurrencies by Amazon drove the price up this week, but the internet behemoth subsequently denied the claims.

 The volatility of Bitcoin (BTC) has hit the news once again.

The volatility of Bitcoin (BTC) returned when the original cryptocurrency temporarily regained the $40,000 barrier before plummeting to $39,000 levels. Following a two-week negative trend that started on July 15, the market is now in a bullish trend.

Bitcoin is the most valuable cryptocurrency at the time of writing. BTC is now trading at $40,203.36, a move of 7.68 percent. It has a market value of $753,329,171,065 and a trading volume of $38,077,658,058 in the past 24 hours. The token’s current supply is 18,769,031.00 BTC.

After a Longest Bullish Movement This Year, Bitcoin Return Back to $40,000 Price Mark

Bitcoin may maintain its ongoing support of $30,000–$40,000, according to current market indications. Before Bitcoin to regain its previous grandeur of $60,000, it has to witness a positive shift of $20,000. Despite what seems to be a positive indication, the quick rush to leave an immediate resistance does not correspond with the $30,000 corridor.

According to CNBC’s latest survey of portfolio managers and equities strategists, 44% of respondents think Bitcoin’s price would fall below $30,000. The remaining 56% of investors were more optimistic, with 6% anticipating Bitcoin to reach $60,000, which would be close to its all-time high of $65,000.

Bitcoin set a new record for the longest duration of a bull market in history, being in this position for over 6 months. The last time BTC was this high, in December 2017, it was worth $19,000.. Read more about bitcoin price live and let us know what you think.

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