“It’s about time” many traders are thrilled that Bitcoin returned to $44,000 after more than four days of absence. The price mark attained by the king coin is especially one that many anticipated as the $45k resistance is next on the line to flip once the coin gains more leverage at $44k.
The largest coin by market cap is expected to start an uptrend as it steadies at $43,000. A recent analysis hinted at the possible price action we are seeing now. The article stated that BTC will experience a gradual surge that may help it return to $45,000. The 200-days MA ($45,649) have acted as a barrier – preventing any breakout above the level in the last seven days. A strong upswing over the next few days will ensure a breakout above $45,649.
Although the largest crypto by market cap is yet to hit $45k, we have a new weekly high ($4,802). We are also experiencing the foretold gradual surge and we may hit $45k within the next 24 hours. As bitcoin gains more ground in the $44.5k and $51k channel a rise to $50k is the aim of the bulls.
The global cryptocurrency market cap is valued at $1.97 trillion as of the time of writing. The current worth signifies a 3.77% increase over the last 24 hours. We may see the total cap at $2 trillion if the bullish sentiment continues to gain more traction.
The king coin is not alone the surge to a new high OMG Network (OMG) is the biggest gainer in the last 24 hours as it gained more than 20% during the time. The coin also hit the highest since August 2018 as it flipped $13, barely five minutes to the time of writing.
The largest alt also joined the bullish spree as it made a return to $3,100. The coin has been struggling below $3,000 the duration bitcoin was also stuck below $44k. Most of the coins in the top 100 are in greens. Let’s see how long the uptrends last.