BITCOIN PRICE ANALYSIS AND PREDICTION: CAN BTC PASS THE 50k PRICE LEVEL?
I don’t think there has ever been a more bullish moment than now for Bitcoin. After surging in prices due to Tesla’s recent crypto investment, BTC reached an all-time high of 48,216 USD.
This is a massive breakout for the coin ever since the recent Elon musk Bitcoin pump and dump. Then, this got Bitcoin to around 38,000 USD.
With all of this put into consideration, Bitcoin managed to increase in price by about 40% in under a week. This is huge and, in my opinion, almost unbelievable. This even got Bitcoin rolling onto another all-time high.
We are now around 48,000 USD worth and I strongly believe that we could smash the proposed 50,000 USD high.
We can already see from the chart below that Bitcoin has broken free from previous resistances and although still somewhat stable, I am positive of a breakout.
I think the bulls will come in to play once again because with Tesla already adopting crypto advancements, the future is looking great for Bitcoin user volume.
Previously, we had PayPal and Square, two well known companies, already going crypto and now the all time famous Elon Musk is joining the trend. It won’t be too far into the future when we will start seeing other high profile companies and even retailers going crypto as well.
Other known and widely used companies like Travala and Booking.com have also adapted to digital tokens. This now allows users to pay for their traveling agency features via cryptocurrencies —Bitcoin, Litecoin, Bitcoin Cash, and Ethereum. This makes spending digital tokens real-time, hassle free hence, this could maximize crypto use. In all, with more users, companies will not just benefit but so will the currencies; we can already see great improvements for Bitcoin.
As more of these companies join in on the crypto world, so will others soon follow up. Who knows, Apple could be next in line to adapt to the incoming digital money era, or even Amazon. The future is looking great for Bitcoin, hence cryptocurrencies in general.
So far, I will advise you all to invest in crypto, more especially Bitcoin. This is a great time to buy and hold. I reckon you will surely get back massive gains soon to come, because I think that by April, Bitcoin could topple the psychological 50,000 USD all-time high!
