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  • The Bitcoin price rises above the critical $51700 resistance level
  • BTC Should Once Again be Close to Its All Time High Quite Soon
  • The spectre of crypto regulation seems to have disappeared from the crypto market with most coins looking bullish

The Bitcoin price has made an impressive move over the weekend, rising over the $51000 mark which was deemed as a critical resistance level. BTC is now up by around 2% over the past 24 hours and is looking to make further highs. All the uncertainty regarding the crypto market regarding regulation seems to have dissipated into nothing as the market continues on the rise.

It is now important that Bitcoin keeps above the $51000 level as that would be a sign that buyers have once again entered the market. It seems that cryptocurrency and the whole DeFi system is causing consternation in traditional financial circles with Fed Chair Jerome Powell once again indicating that he is in favour of the market being regulated. If analysts were expecting a dip in the price after these comments, the Bitcoin price did exactly the opposite and appreciated.

If you want to but some Bitcoin then have a look at this How To Buy Cryptocurrency Beginner’s Guide.

Short Term Prediction For Bitcoin Price: A Slow But Steady Rise

The Bitcoin price seems to be poised for further gains as it has managed to overcome the critical $51000 resistance level after a number of attempts. Although there could be a minor pullback if things turn bearish, it does seem that we are finally in ascending territory as far as Bitcoin is concerned.

It has to be said that Bitcoin has risen by around 80% from its July 20 swing low of $29500 which is an impressive achievement overall. After reaching $50,000 in August, this is the highest price for BTC over the past three months.
If a bullish thesis were to come into play, then the Bitcoin price should appreciate by around 2% to reach the $53000 level where more resistance should be encountered. If that level were to break, then the $55000 level is a distinct possibility where more resistance should be encountered.

If bears enter the market again, the Bitcoin price would probably once again cede the $51000 level and drop to below the $50000 mark. However, this scenario is unlikely as bullish momentum seems to be firmly present.
If you want to start trading Bitcoin then you should take a look at these Top Cryptocurrency Brokers.

Long Term Prediction For Bitcoin price: Another All Time High Expected Soon

As the cryptocurrency market continues in bullish mode, the Bitcoin price is expected to continue appreciating accordingly. There may be pitfalls along the way but the overall trend remains bullish.

It seems that institutional investors are once again piling into cryptocurrency as they return from the holidays. The Bitcoin price should reach its all time high of $65000 quite son and $100K is not a fantasy by the end of the year.

Where to Buy Bitcoin

If you want to purchase BTC, you can do so on the following exchanges:
eToro is one of the trusted exchange platforms in the crypto space. eToro supports copy trading, which allows new traders to learn from market experts. eToro also charges low trading fees and commissions.
The other platform where you can buy Bitcoin is Binance. Binance is one of the largest exchange platforms. It supports a wide range of cryptocurrencies and trading pairs. It also offers user-friendly features.

Looking to buy or trade Bitcoin now? Invest at eToro!

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