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Will Bitcoin(BTC) Price Surge Above $24K?

Will Bitcoin(BTC) Price Surge Above $24K?

  • BTC price surged up to $24,200 but decreased after that limit.
  • At the time of writing, the coin was trading at $23,886.

Bitcoin (BTC) broke the $24K overhead resistance today but was not able to sustain it over the $24,200 limit. Experts predicted that if the coin crossed the $24.2K limit, then the rise would be steady and gradual. Still, some believe the crypto-leading coin is back on track.

At the start of the week, there was a theory among the crypto enthusiast, BTC will break the $24K and $25K resistance levels. That in return will develop a recovery path for the coin to reach $28,000 to $32,000. And the other possibility in talks was, that the break below the moving average line may pull it down up to $20K.

BTC Price Chart (Source: TradingView)

BTC Present State

At the start of the day, the BTC showed a stable increase of over $23,500 till it reached $24,200. But was not able to cross over that level, currently, the coin is trading at $23,886. The trading volume at the time of writing is $29.74 B, with the market cap over $455 B. The circulating supply as of now is 19 million BTC.

BTC Price Chart (Source: CMC)

The coin managed to maintain the 100 hours moving average and as the experts say, the descending channel pattern will lead to a bullish zone. The price surge in the BTC will benefit all other tokens in the market too. And the increase will also help to neutralize the crypto winter too.

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Read more: https://thenewscrypto.com/will-bitcoinbtc-price-surge-above-24k/

Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M

Disclaimer: Financial information and news are not financial advice, read the disclaimer.
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