Bitcoin, the biggest cryptocurrency out there in terms of market value, has crossed the $45,000 mark again, making it the first time since spot ETFs started trading back on Jan. 11. As of now, it’s sitting at $45,374, showing a 5.32% jump over the past 24 hours. Let’s take a look at this Bitcoin price article in more detail.
How has the Bitcoin price moved in the recent days?
Bitcoin’s cruising at approximately $45,320 right now, with a trading quantity of $35.37 billion inside the ultimate 24 hours. Speak about making actions! Its market cap? A whopping $889.27 billion, essentially making it the king of the crypto fort with over 1/2 the market percentage. And get this – it is had a quite sweet uptick of around 5.20% in charge during the last day.
Now,in the past again on Nov 10, 2021, Bitcoin was dwelling its high-quality existence, hitting an all-time excessive of $68,770. However, it’s been via some hard patches too. Like back on Jul 17, 2010, when it become nearly pennies at $0.050000. On account that then, it is been on a rollercoaster, losing to as low as $15,599 and rocketing returned as much as $48,941. Right now, traders are feeling pretty bullish, and the fear & Greed Index? it’s chilling at a decent 66.
As for the supply side of things, we’ve got approximately 19.62 million Bitcoins floating around out of a max supply of 21.00 million. And, the yearly deliver inflation rate? it is cruising alongside at 2.11%.
Will the BTC price reach $50,000?
Laurent Ksiss, a crypto ETP expert at CEC Capital, says, “When Bitcoin hits $45,000, it’s like a sigh of relief for those who got in on the bitcoin ETF early. They’re almost breaking even. But if this surge keeps going, some might cash out, causing a dip and testing the $42,000/$40,000 levels.”
A 5.32% surge in BTC’s price signals the bulls’ return after they took a breather post-ETF approval sell-off. The market was a mixed bag after dipping below $38,000, with some fearing a drop to $36,000 or even $34,000.
However, trader and analyst Rekt Capital views the correction as healthy, similar to pre-halving price patterns seen in the past. Typically, BTC tends to dip a few months before halving before rallying significantly as hype builds around the event.
According to Rekt Capital, Bitcoin entered its final week in the “Pre-Halving Downside” phase this past Monday. From here, it’s poised to transition into a “Pre-Halving Rally,” potentially propelling BTC above $50,000.
Where to BUY Bitcoin?
Bitget stands out as a reliable crypto exchange. It provides a user-friendly interface, making it easy for both beginners and experienced traders to navigate and make transactions at the lowest fees on the market. To get started with Bitget, you need to create an account, complete the necessary KYC procedures, and then you can begin trading a variety of altcoins available on the platform.