- Cryptocurrency markets surge, Bitcoin crosses $44,280.
- Robinhood to offer commission-free crypto trading in Europe.
- Bitcoin approaches $50,000 amid technical Golden Cross anticipation.
The markets for cryptocurrencies have experienced a significant increase following a phase of stability, with a rise evident since the beginning of the last quarter. In recent days, the digital currency domain has seen over $120 million in leveraged positions of Bitcoin
Furthermore, Robinhood Markets Inc. is preparing to launch trading without commissions to transform the industry. After its effective launch in the UK stock-broking market, the service is preparing to enable European investors by offering them the ability to trade a variety of more than 25 cryptocurrencies, such as well-known ones like Bitcoin and Ethereum
Will Bitcoin Hit $50,000?
Bitcoin’s value is currently reaching levels that have not been seen since December 2021. On the 6th of December, Bitcoin attained a peak that it had not reached in over 22 months, hitting $44,282. As of this report, Bitcoin is valued at $44,034, with a trading volume surpassing $26 billion for the day. Over the last seven days, there has been a 16.5% rise in Bitcoin’s value, representing a substantial 166% growth since the beginning of the year.
Considering technical and market analysis, Bitcoin is facing important resistance near the $44,000 lower range. Essential support levels are established at $43,300, while substantial resistance is imminent at $45,650.
Should the current trajectory persist, Bitcoin could ascend to $44,700, and if the upward momentum is maintained, it might even surge to the sought-after threshold of $50,000. On the other hand, should there be a shift in the prevailing trend, the initial price floor for Bitcoin could be at $43,300, with further potential safety nets at $42,906 and $41,637.
Moreover, there is a sense of expectation regarding the soon-to-happen first weekly Golden Cross for Bitcoin, an event commonly thought to trigger a new upward movement soon.
Disclaimer: The insights, perspectives, and data presented in this price analysis are published in good faith. Readers must conduct their own research due diligence. Any decision made by the reader is solely their responsibility, and Crypto Outlooks shall not be held responsible for any consequential or incidental harm or loss.
