Bitcoin News

The price of Bitcoin reached $ 51,200


The price of Bitcoin, which was able to exceed $ 50,000 yesterday, reached a new high a few hours ago and reached $ 51,200.

to the the report Bitcoin Telegraph, the price of Bitcoin after 4.5 percent growth in the last 24 hours is now trading in the range of $ 51,500. Peter Brandt, a well-known market analyst, referred to the bitcoin trend as an “uptrend”.

Bitcoin price chart
Bitcoin price chart

Bitcoin entered the price discovery phase yesterday after overcoming the $ 50,000 resistance. The price discovery phase refers to a process in which the value of an asset enters an area that has not been there before. It is worth noting that yesterday’s jump in the price of Bitcoin to $ 50,000 was not very stable and we immediately saw a correction. According to experts, this is the fourth parabolic or parabolic ascent of bitcoin in its 12-year history. Peter Brent tweeted:

It is very rare for stock to rise on an arithmetic scale. Three such mutations are on a historical logarithmic scale.

In response to Brent, Dan Held said that if Bitcoin was continuing its previous phase of 2012, it would be the fourth such jump, not the third.

Brent also said that if the stock jump is broken and a downtrend is created, it will be possible to correct it by 80%. This happened in 2018, after the peak of $ 20,000, and the price of Bitcoin fell to $ 3,100.

Historical Bitcoin price chart
Historical Bitcoin price chart

Various bitcoin price indices indicate that stock price breach violations are unlikely. Experts, on the other hand, believe that the current situation is only the starting point for Bitcoin’s main leap.

Samson Mow, CEO of Blockstream, wrote:

Bitcoin $ 50,000 is the normal new price of Bitcoin.

Some other experts believe that aggregation of macro indicators can increase the acceptance and acceptance of bitcoin and ultimately increase its price even more. Documenting Bitcoin wrote about this:

If you think Bitcoin is $ 50,000 cheap, then what about printing $ 1,900,000,000,000 out of nothing?

At the same time as the price of bitcoin has risen, in the last 24 hours, the market coins have been fluctuating in a certain range. Of these, only Polkadot was able to move upwards.

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