Fun

Bitcoin Quickly Jumps Above the $52K Zone Only to Get Pushed Back, Crypto Economy Climbs 3.5%

News Feed - 2021-09-06 10:09:26

Bitcoin Quickly Jumps Above the $52K Zone Only to Get Pushed Back, Crypto Economy Climbs 3.5%


Bitcoin surpassed the $52K handle on Monday morning, as crypto-asset markets have been moving northbound and gathering more fiat value. The overall crypto economy is around $2.45 trillion and it has gained 3.5% during the last 24 hours. Meanwhile, bitcoin charts show a pending golden crossover which to many means the overall market outlook looks bullish. Bitcoin Hits Resistance Above the $52K Handle


Digital asset markets are in the green today and many crypto assets have seen single to double-digit gains during the last 24 hours. At the time of writing, the entire crypto-economy of 10,000+ cryptos in existence is around $2.45 trillion on Monday. Bitcoin (BTC) has gained more than 3.5% today and 6.3% during the last seven days. On Monday morning (EST), BTC surpassed the $52K zone reaching $52,230 per unit. Many assume BTC’s next few months will be bullish and a pending golden cross chart signal indicates this may be the case. Bitcoin (BTC) tapped a high of $52,230 on Monday, but has since regressed back to the $51K range.


Basically, when the short-term moving average jumps over the long-term moving average and starts moving northbound, traders call it a golden cross and assume an upward trend is coming. “On Friday, BTC broke through the resistance of $50,500, paused for the weekend, and exceeded $51,500 on Monday, where it is now struggling to hold on,” Fxpro senior financial analyst Alex Kuptsikevich told Bitcoin.com News.


“Actually, Bitcoin has been trading above $50,000 since last week as the bulls managed to keep the rate above the 200-day moving average. In light of this, the price of ‘over fifty’ has become quite common over the past few days,” Kuptsikevich added. The analyst further stressed: Anchoring above this mark will open the way to $60,000 and may become a catalyst for a fully-fledged reversal of the crypto market. Ethereum Closing in on All-Time Highs, Myriad of Other Cryptos See Double-Digit Gains


Meanwhile, ethereum (ETH) is only up 0.3% today but over the last week, ether has gained 22.2%. ETH hit a high above the $4K handle on September 1, but has been below that region since then. Simon Peters, Etoro’s crypto-asset analyst, says ether is headed toward all-time price highs.


“Ether is closing in on all-time highs while bitcoin has reached above $50,000 for the first time since mid-May,” Peters said. “ETH surged in the last week, coming close to breaching the $4,000 level. The crypto asset began the week below $3,200 but rose quickly through the week, reaching $3,981 by Friday. Over the weekend gains have flattened but remain trading in this range,” he added. The Etoro crypto analyst continued: A confluence of factors is contributing to the rising price of ETH. ETH burning, staking, gas fees, transactions, and locked away tokens on defi are all working in concert to support price levels. BTC meanwhile has hit above $50,000 for the first time since mid-May. The crypto asset started the week with falls to below $47,000 before rallying midweek above $50,000. In early trading today BTC has surged again, closing in on $52,000.


As bitcoin and ethereum have seen some gains and of course attention, a number of other crypto-assets have seen better returns over the last 24 hours. Coins like quant, omg network, filecoin, ftx token, fantom, qtum, chainlink, mdex, bitcoin cash, and EOS have all seen double-digit 24-hour gains.


What do you think about bitcoin and the rest of the crypto economy’s recent improvements? Let us know what you think about this subject in the comments section below. Analyst Predicts Crypto Bull Market: $100K Bitcoin, $5K Ethereum Is Path of Least Resistance MARKETS AND PRICES | 12 hours ago JPMorgan Says Cryptocurrency Markets Are "Looking Frothy" MARKETS AND PRICES | 2 days ago Tags in this story $50K, $52K, Alex Kuptsikevich, Bitcoin, bitcoin prices, BTC, crypto economy, Crypto Prices, Crypto Trades, ETH, ether, Ethereum, Etoro analyst, Fxpro Analyst, gas fees, Prices, Simon Peters, staking, trading, values


Image Credits: Shutterstock, Pixabay, Wiki Commons, bitcoinwisdom.io Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments

News Feed

Input-Output Global Devs Reveal Cardano’s Vasil Hard Fork Is Scheduled for September 22
Input-Output Global Devs Reveal Cardano"s Vasil Hard Fork Is Scheduled for September 22 While The Merge is expected to take place in just over ten days’ time, Cardano’
Amaka Nwaokocha11 hours agoCrypto speculations simmer after cryptic posts on XThe crypto community on X is on edge over cryptic posts by Ripple’s chief technology officer and X itself.3324 Total views31 Total sharesLis
Picpay Rolls Out Crypto Trading Options to More Than 30 Million Users in Brazil
Picpay Rolls Out Crypto Trading Options to More Than 30 Million Users in Brazil Picpay, a payments and wallet app, is now providing cryptocurrency services to more than 30 million
Russian President Vladimir Putin Signs Order Compelling Government Workers to Disclose Crypto Holdings
Russian President Vladimir Putin Signs Order Compelling Government Workers to Disclose Crypto Holdings Russian President Vladimir Putin has signed an order compe
Onboarding Institutional Crypto Investors- Coinbase Helps Execute ‘One of the Largest Digital Asset Trades in History’
Onboarding Institutional Crypto Investors- Coinbase Helps Execute "One of the Largest Digital Asset Trades in History" Over the last year, institutional investor
Moscow, Karelia, Irkutsk — Study Lists Most Popular Crypto Mining Destinations in Russia
Moscow, Karelia, Irkutsk — Study Lists Most Popular Crypto Mining Destinations in Russia Russia could be a large player in the crypto mining space, experts in the field have esta
FBI Arrests 2 Men Planning ‘Violent’ Robbery of Bitcoin Worth Millions of Dollars — They Face 20 Years in Prison
FBI Arrests 2 Men Planning "Violent" Robbery of Bitcoin Worth Millions of Dollars — They Face 20 Years in Prison The Federal Bureau of Investigation (FBI) has arrested two men wh
Software engineer sentenced to three years in prison for Nirvana hack
Derek Andersen5 hours agoSoftware engineer sentenced to three years in prison for Nirvana hackShakeeb Ahmed was a technical lead for Amazon when he hacked smart contracts on at least two DEXes.6295 Total views2 Total sha
Moscow Not Planning to Ban Russians From Buying Crypto Abroad
Moscow Not Planning to Ban Russians From Buying Crypto Abroad Russia is not going to follow China’s course and does not plan to ban its citizens from purchasing cryptocurren
Derek Andersen3 hours agoUS House Financial Services members scold Fed’s Powell for stablecoin bill obstructionThe committee members suspect the Fed is trying to hold up Congressional efforts to pass stablecoin legisla
Ethereum Accumulation Address Holdings Surge By 60% In Five Months – Details
Este artículo también está disponible en español. Amid a general crypto market price fall in the past week, Ethereum (ETH) recorded a price correction of over 19.5% findi
Bitcoin and gold broke new price records on the same day
Helen Partz14 hours agoBitcoin and gold broke new price records on the same dayThe new all-time highs marked the first time Bitcoin and gold hit new records simultaneously since the emergence of BTC.3523 Total views41 To