Bitcoin posted new weekly highs above $52,000 as a resurgence in positive sentiment combined with persistent institutional buying. Analyzing exchange data, Ki Young Ju, CEO of on-chain analytics resource CryptoQuant, argued that to all intents and purposes, the BTC price dip had finished after its brief visit to $43,000.
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Markets Report: Bitcoin hits $50,000 as Pal heralds ‘only chance people have’
The last outpost of the $40,000s dissipates on Tuesday with momentum clearly visible for a takedown of new levels
After several attempts to leave the $40,000 trading corridor, Bitcoin saw rejection as the spot market hit around $49,780. Futures still managed to breach the $50,000 mark before a correction set in, that in itself lasting only hours before a final push sent the market to a peak of $50,600.
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Bitcoin retakes $12,000 as analytics firm CEO says bull run has now begun
“Pivotal” resistance at $11,900 gives way to highs of $12,300 as bullish hopes continue to come true this week
Bitcoin hit almost $12,400 on October 21 as consolidation at key levels ended in a fresh breakout. Data from price trackers including CoinMarketCap followed BTC/USD as bulls gained control for another attempt at quashing $12,000 resistance.
