Bitcoin [BTC] sees six consecutive weeks of gains for the first time since hitting $20,000

2019-4-1 18:00

Bitcoin [BTC], the largest cryptocurrency in the world, lost over 80% of its value in 2018 after reaching its all-time high in December 2017. Since its drastic fall from the $20,000 mark, the coin consistently endured bearish market movements, reaching a low of $3,215 in December 2018.

This price movement alarmed a large number of crypto-enthusiasts as many were expecting a strong bull run in December 2018, negatively affecting investor sentiments.

However, it seems like Bitcoin is slowly recovering as the king coin, for the first time since its all-time high, registered six consecutive weeks of gains on 1 April. The pattern was first noticed by Redditor RedGolpe, who posted a chart explaining the price movement.

Source: Trading View

After reaching a low of $3,422 in January 2019, Bitcoin’s price slowly gained momentum. Over the first week of February, Bitcoin added $246 to its price and rallied to a high of $3,747, which was a seven percent rise. Over the next three weeks, the price of the king coin reached $3,988 and as the month came to an end, a clear bullish market was in flow.

Over the first two weeks of March, the coin added $183.90 to its value and surged to $4,068. During this rally, Bitcoin broke its strong support at $4,000, pushing the collective market into bullish territory. The last week of March saw the largest cryptocurrency holding its position in the market and closing at $4,167, which was very close to its resistance at $4,200.

This price movement has given investors a new-found belief in the crypto-market as many have dubbed it the start of the long-awaited rally. However, with Mt Gox announcing that it will begin its creditor refund program soon, some crypto-enthusiasts are worried about a BTC dump crashing the market.

Redditor AAAdamKK commented,

“It is beginning to feel like the bear market might be over. My only worry is that MtGox creditors will dump 200k BTC on the market in the near future.”

To this comment, another Redditor djulac said,

“I’ll buy them all. Y’all have nothing to worry.”

Another Redditor, cypher437, said,

“thats what the bears want you to think. Expect a bulltrap to come in next couple of weeks.”

At press time, Bitcoin was trading at $4,141, with a market cap of $72 billion. It registered a 24-hour trading volume of $10 billion and was up by 0.85% over the day. Bitcoin, despite losing part of its market dominance, was still holding strong with a market dominance of 50.1%.

The post Bitcoin [BTC] sees six consecutive weeks of gains for the first time since hitting $20,000 appeared first on AMBCrypto.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 68630.93 (+0.20%)
Объем 24H $41.466b
Изменеия 24h: -0.37 %, 7d: -3.65 %
Cегодня L: $66916.68 - H: $68649.38
Капитализация $1357.74b Rank 1
Цена в час новости $ 4159.84 (1549.85%)

btc bitcoin december 2018 hitting reaching six

btc bitcoin → Результатов: 126


Japan’s Metaplanet’s Bitcoin Holdings Rise to 530 BTC After Pulling Off Mind-Blowing Strategy

According to the latest announcement from Japanese investment firm Metaplanet Inc., its Bitcoin holdings have surged, rising to 530.717 BTC as of October 3. As revealed by the Tokyo-listed company, this increase in its Bitcoin bags was possible due to a smart options trading strategy, which led to the company earning more BTC and adding […]

2024-10-4 21:00


Фото:

Bitcoin STHs Supply Decreases By 1.31M BTC – A Sign Of Growing Confidence?

Bitcoin has remained above $60,000 for the past two weeks, holding strong as the broader crypto market bulges. This steady performance is fueling optimism among traders and investors alike.  According to key data from CryptoQuant, short-term holders are now selling for profit, leading to a notable decrease in BTC supply. This reduction in available BTC […]

2024-9-30 19:00


Bitcoin wallets dormant for 15 years move BTC after touching highs above $64,000

Satoshi era bitcoin wallets dormant since 2009, have moved 250 BTC to new wallet addresses The five wallets transferred BTC in batches of 50 coins each Bitcoin price traded around $63,500, having touched highs above $64,000 across major exchanges Several Bitcoin (BTC) miner wallets dormant for over 15 years have moved 250 BTC worth over […] The post Bitcoin wallets dormant for 15 years move BTC after touching highs above $64,000 appeared first on CoinJournal.

2024-9-21 12:46


Bitcoin Preparing for a Bullish Phase – New Cryptos to Hold During BTC Expansion

Despite the current bearish market sentiment, many seasoned analysts believe that Bitcoin (BTC) could soon break the $60k psychological barrier and lead the wider market into a bullish phase. The reason for this was explained in a recent post by Bitcoinsensus, suggesting that BTC whales are trying to position themselves for the next bull run.

2024-9-5 17:30


Bullish Bitcoin News? US Federal Reserve Set To Implement Three Rate Cuts This Year

As global economic uncertainty looms, Bitcoin (BTC) has experienced increased volatility and is struggling to maintain its footing above critical resistance levels lost over the past month. The largest cryptocurrency on the market remains in a precarious position, but emerging signs could bode well for the BTC price and the broader crypto ecosystem.

2024-8-30 03:30