Bitcoin Surges to $59,000 Ahead of Halving Event
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Home > News
Published: 28/02/2024
-
Author: Leexim
Bitcoin Surges to $59,000 Ahead of Halving Event
Bitcoin has surged to $59,000 today, marking its highest level since November 2021.
Azcnews (4)
Entering its third consecutive day of bullish momentum, Bitcoin has surged past the $59,000 threshold, hurtling towards the significant $60,000 milestone. Concurrently, the trading volume of Bitcoin ETFs has breached the $2 billion mark, underscoring the robustness of the cryptocurrency.
The forthcoming halving event and potential rate cuts serve as additional catalysts, contributing to what can be described as an impressive “Pre-Halving Run.” With a remarkable 40% surge in value this month, Bitcoin seems poised to attain a new all-time high before the impending halving.
As the bullish trend gathers steam, the much-anticipated BTC price prediction of reaching $100,000 inches closer to realization, marking an exciting trajectory for Bitcoin’s future.
In the realm of daily charts, the unyielding bullish sentiment in Bitcoin is unmistakable, evident in the formation of three consecutive bullish candles. The cryptocurrency market cap has now surpassed the $1.1 trillion mark, further fueling the upward trend.
Source: Tradingview
Source: Tradingview
Approaching the challenge of the $60,000 milestone, the BTC price has the potential to reach $68,157, as indicated by trend-based Fibonacci levels. The intraday growth of 3.59%, propelling Bitcoin to the $59,000 mark, coupled with increased trading volume, signifies the cryptocurrency’s forward momentum.
Notably, Coinglass reports liquidations totaling $244.12 million in the last 24 hours, with $139 million stemming from short-order liquidations affecting approximately 81,536 traders.
Related: Bitcoin Price Could Reach $200,000 Next Year
The MACD indicator paints a positive picture, displaying a crossover between the MACD and signal lines, suggesting a surge in underlying bullish sentiment.
Amidst these developments, the lingering question arises: Will the BTC price indeed reach $100,000? The potential for a sustained, high-momentum uptrend in Bitcoin is becoming more plausible as recovery momentum intensifies. With Fibonacci levels pointing to a potential peak around $96,000, and the bullish breakout of an inverted head and shoulder pattern, a closing above $60,000 could propel the BTC price to the anticipated $68,157 mark.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
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Search...
Home > News
Published: 28/02/2024
-
Author: Leexim
Bitcoin Surges to $59,000 Ahead of Halving Event
Bitcoin has surged to $59,000 today, marking its highest level since November 2021.
Azcnews (4)
Entering its third consecutive day of bullish momentum, Bitcoin has surged past the $59,000 threshold, hurtling towards the significant $60,000 milestone. Concurrently, the trading volume of Bitcoin ETFs has breached the $2 billion mark, underscoring the robustness of the cryptocurrency.
The forthcoming halving event and potential rate cuts serve as additional catalysts, contributing to what can be described as an impressive “Pre-Halving Run.” With a remarkable 40% surge in value this month, Bitcoin seems poised to attain a new all-time high before the impending halving.
As the bullish trend gathers steam, the much-anticipated BTC price prediction of reaching $100,000 inches closer to realization, marking an exciting trajectory for Bitcoin’s future.
In the realm of daily charts, the unyielding bullish sentiment in Bitcoin is unmistakable, evident in the formation of three consecutive bullish candles. The cryptocurrency market cap has now surpassed the $1.1 trillion mark, further fueling the upward trend.
Source: Tradingview
Source: Tradingview
Approaching the challenge of the $60,000 milestone, the BTC price has the potential to reach $68,157, as indicated by trend-based Fibonacci levels. The intraday growth of 3.59%, propelling Bitcoin to the $59,000 mark, coupled with increased trading volume, signifies the cryptocurrency’s forward momentum.
Notably, Coinglass reports liquidations totaling $244.12 million in the last 24 hours, with $139 million stemming from short-order liquidations affecting approximately 81,536 traders.
Related: Bitcoin Price Could Reach $200,000 Next Year
The MACD indicator paints a positive picture, displaying a crossover between the MACD and signal lines, suggesting a surge in underlying bullish sentiment.
Amidst these developments, the lingering question arises: Will the BTC price indeed reach $100,000? The potential for a sustained, high-momentum uptrend in Bitcoin is becoming more plausible as recovery momentum intensifies. With Fibonacci levels pointing to a potential peak around $96,000, and the bullish breakout of an inverted head and shoulder pattern, a closing above $60,000 could propel the BTC price to the anticipated $68,157 mark.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Read Less
5.0/5
(1 vote)
Leave a Reply
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Save my name, email, and website in this browser for the next time I comment.
LATEST
Azcnews (3)
News | Altcoin | Editor Choice 28/02/2024
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In the continuous legal battle between the SEC and Ripple Labs in the XRP lawsuit, the SEC has officially sought an adjustment to the existing schedule for briefings related to remedies.
News | Bitcoin | Editor Choice 28/02/2024
Bitcoin Price Could Reach $200,000 Next Year
Analyst Peter Brandt predicts that Bitcoin could surge to $200,000 at the peak of this cycle, equivalent to a nearly fourfold increase for BTC.
Azcnews (1)
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Bitcoin Experiences a Surge in Trader Interest
The popularity of Bitcoin trading on exchanges is on the rise, fueled by a sustained increase in the average investor's profits.
Top views
1
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