Business

Bitcoin price experiences new spikes in split seconds as analysts say “almost time” for the cryptocurrency’s massive rise

The price of Bitcoin (BTC) continued its pattern of surges on November 24as the sudden momentum produced a brief trip above $ 57,400.

BTC / USD (Bitstamp) 1-hour candlestick chart. Source: TradingView

Analyst: 2021 still fits bullish pattern

Data from Cointelegraph Markets Pro and TradingView showed that The BTC / USD pair made nervous moves within a familiar range on Wednesday.

The pair reached highs of $ 57.875 on Bitstamp over the past 24 hours, which did not hold for long, as buyer support waned near the $ 60,000 resistance.

In the midst of an uninspiring market environment, Some took the opportunity to highlight the similarities between 2021 and the bull markets of previous years.

The popular Twitter account TechDev focused on the Fibonacci levels and the behavior of Bitcoin around them. This year so far it has exactly fitted the standard rubric.

That analysis feeds a prediction that the current cycle will go up to USD 300,000.

On previous comments, TechDev agreed that it was “almost time” for Bitcoin’s Relative Strength Index (RSI) to see a comeback of its own, with price following suit.

For his part, his colleague Pentoshi confirmed his belief that the $ 60,700 mark must be recovered and held to plan long positions.

“So far sellers have looked weak at the lows down here,” he told his Twitter followers.

Zcash outperforms the top ten cryptocurrencies

While Bitcoin was playing a cool game, it was altcoins that saw the most decisive moves on Wednesday.

Ether (ETH) was trading up 4.7% at the time of writing, at $ 4,290., consolidating itself as the highest performing cryptocurrency among the top ten by market capitalization.

ZEC / USD (Coinbase) 1-hour candlestick chart. Source: TradingView

An outlier among the major tokens was Zcash (ZEC), which gained 26% after the comments Comments on Twitter from Barry Silbert, Founder and CEO of the investment giant Digital Currency Group.

Known for hinting at your potential next purchases, Silbert also tried to push the price of Bitcoin up on Wednesday before its latest rally.

Keep reading:

Source link

HELEN HERNANDEZ

Helen Hernandez is our best writer. Helen writes about social news and celebrity gossip. She loves watching movies since childhood. Email: Helen@oicanadian.com Phone : +1 281-333-2229

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button

Adblock Detected

Please consider supporting us by disabling your ad blocker