After hitting local lows of $43,000 in recent days, Monday is seeing a renaissance in momentum on Bitcoin markets, with even Bitcoin-skeptical Citibank flipping bullish on long-term prospects.
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Markets Report: Bitcoin steadies as analyst proclaims ‘strongest bullish signal ever seen’
Major buy-ins even at $48,000 provide a unique source of good news in a week when Bitcoin shed 20% of its value
Bitcoin hovered near $50,000 on February 25 amid what one analyst suspects are fresh buy-ins from institutional investors. US institutional investors are still buying Bitcoin at the 48k price,” said Ki Young Ju, CEO of on-chain analytics resource CryptoQuant.
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Bitcoin appears to be stabilizing above $50,000 as Ether pushes $2,000 barrier (Photo: CoinMarketCap)Markets Report: New all-time highs keep coming for Bitcoin, Ether
The past 24 hours brings records for the two largest cryptocurrencies, with charts providing little bearishness to spoil the mood
Ether hit new all-time highs of $1,929 on February 18 as a brief lull in Bitcoin price action allowed for further upside. The latest push higher brings Ether closer than ever to the significant psychological barrier at $2,000, something which if broken could immediately spur a surge to $2,200.
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Bitcoin Shorters Beware! Market lies in wait for $50,000
Thin resistance between spot price and the $50,000 hurdle amid more public endorsement of corporate Bitcoin buying
Broadly thought to be a watershed moment for the cryptocurrency, Tesla’s buy-in had proponents arguing that other big tech firms would have no choice but to follow. Thereafter, naysayers voiced caution, arguing that Bitcoin’s volatility itself would stop smaller outfits converting a significant portion of their treasury.
