Bitcoin (BTC) is trading over $ 51,000 for the first time in a month on October 6th, as the winning return to form continues. Markets are not quiet on Wednesday as bulls struggle to control key prices.
Data from Coinmarketcap and TradingView showed BTC / USD adding another 5% on Wednesday to a brief return to the area of psychologically significant prices.
The recent success of Bitcoin bears “October,” was pushed aside as resistance levels plummeted.
The largest cryptocurrency had benefited from significant uncertainty, which was compounded by the proliferation of social media platforms affecting Facebook, Instagram, and others.
For Cointelegraph contributor Michaël van de Poppe, the previous look at price behavior suggested that the upside was a possible conclusion to the current movement, with the dip in the relatively limited range.
“Given the conclusion of the price action, it looks like Bitcoin will go up to anything around $ 52,000 or maybe even the most recent, and then go down to $ 49,000 before we continue to consolidate,” he said. YouTube update.
He also added that the best place to get back is $ 47,500, but any lower will not be profitable for cattle.
Bitcoin, meanwhile, has led to huge altcoins at the time of writing, this slowing down the response.
Only Dogecoin (DOGE) has made a huge profit in the last 24 hours, this is 6.45% compared to 5% thanks to BTC and from Elon Musk’s novel announcement.
The largest altcoin, Ethereum (ETH), by comparison, was 2.90% higher than just $ 3,450 USD.