The first cryptocurrency again demonstrated strong growth, breaking the $43,500 mark.
The chart below shows that the upward price movement is accompanied by a surge in trading volumes:
At the time of writing, digital gold is trading around $43,700.
“Traditionally,” Bitcoin’s rise has buoyed the broader market. However, not a single altcoin from the top 10 has yet surpassed the flagship in terms of growth rates:
According to CoinGlass, positions worth $233.63 million were liquidated during the day, of which over $150 million were short positions.
User X under the nickname Titan of Crypto outlined the expected Bitcoin price targets for the coming weeks – $48,800 and $50,900.
#Bitcoin $43,200 IMMINENT ! 💥🚀
Next weekly targets are in the chart 🎯:
◽️$43.2k
◽️$48.8k
◽️$50.9k pic.twitter.com/rppExCWNzg— Titan of Crypto (@Washigorira) December 5, 2023
MN Trading founder Michael van de Poppe expressed confidence in reaching the $50,500 level before the halving expected in April 2024.
#Bitcoin is on his way to reach the $48.5-50.5K marker pre-halving.
It has always done this in the previous cycles, seems likely we’ll see that again here.
As long as it stays above $39K, then it’s great vibes.
Chances of Bitcoin reaching $30K are getting very slim. pic.twitter.com/BMqyK6bA0u
— Michaël van de Poppe (@CryptoMichNL) December 5, 2023
According to the calculations of analyst Rekt Capital, the current progress of the bull market so far is only 28.6%.
#BTC Bull Market Progress:
▓▓░░░░░░░░ 28.6%$BTC #Crypto #Bitcoin pic.twitter.com/54DJ05Ud4E
— Rekt Capital (@rektcapital) December 5, 2023
The total capitalization of the cryptocurrency market is $1.65 trillion. Bitcoin dominance index – 51.3%.
Experts previously interviewed by ForkLog shared their opinions on the reasons for the current rally in digital gold.
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ForkLog newsletters: keep your finger on the pulse of the Bitcoin industry!
2023-12-05 18:00:00
#Bitcoin #price #broke
