Bitcoin (BTC) is the oldest and most popular cryptocurrency that is revolutionizing traditional finance by enabling secure peer-to-peer transactions in the digital world. It has gained immense popularity among investors, traders, business, and many more.
Bitcoin price is showing strong bullish momentum as it breaks above the resistance level at $46,000 and there is also potential for further gains with a possible rally towards the next resistance at $48,000.
Bitcoin Price Surges by 4%: A Bullish Move
The price of the Bitcoin token has initiated a consistent positive trend, surpassing the resistance zone at $44,500. The BTC Coin successfully breaks the $46,000 level resulting in a shift into a positive zone.
The recent surge in the Bitcoin price has coincided with the S&P 500 reaching a record high. This suggests that investors may be turning to digital assets as an alternative investment avenue, seeking protection from inflation.
Also Read: Bitcoin (BTC) Price Prediction
This shift in investor sentiment highlights the increasing acceptance and recognition of cryptocurrencies as a legitimate and valuable asset class in today’s dynamic financial landscape.
How High will Bitcoin Go in 2024?
As we found on CoinMarketCap, the BTC Coin is trading at $46,220, with an almost 4% increase. The market cap of Bitcoin is near to $910 billion.
According to our expert’s technical and price analysis, the BTC Coin can reach a maximum price value of $89,319.62, with an average trading price of $80,893.24 by the end of 2024. If there is any negative trend in the crypto market, the price of Bitcoin can fall down to $34,700.
Also Read: Shiba Inu vs. Dogecoin – ChatGPT Predicts the Winner of 2024!
Disclaimer
The information in this article should not be considered financial advice, and the OvenAdd platform is intended only to provide educational and general information. Please conduct your own research and consult a financial advisor before making any investment choices.
