On the morning of February 9, the quotes of the first cryptocurrency consolidated above the level of $46,000.
February 9, 2024 | 14:58 Update:
The price of Bitcoin continued to move and surpassed $47,000. At the time of writing, the asset is near $47,200, having gained 5.4% over the past 24 hours (CoinGecko).
15-minute BTC/USDT chart of the Binance exchange. Data: TradingView. February 9, 2024 | 15:25 Update:
Over the past 24 hours, Ethereum has gained 3.9%. At the time of writing, the price of the second largest cryptocurrency by capitalization is above $2,500.
15-minute ETH/USDT chart of the Binance exchange. Data: TradingView. 15-minute BTC/USDT chart of the Binance exchange. Data: TradingView.
Over the past 24 hours, digital gold has risen in price by 4%. According to CoinGeckoits capitalization reached $906 billion with a trading volume of $29 billion.
The cryptocurrency fear and greed index reached 72, indicating buying pressure.
Data: alternative.me.
Other digital assets from the top 10 by capitalization also entered the “green zone”.
Data: CoinGecko.
MN Trading founder Michael van de Poppe noted that Bitcoin is “showing tremendous strength.” The asset will probably consolidate in the range of $38,000-50,000, he admitted.
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#Bitcoin is above $45K and showing a lot of strength!
Between $38-50K is the defined range and the expectance that we’ll consolidate.
Positive impact of the ETF = priced in.
Negative impact of the ETF = priced in.Now we’re back to regular, organic growth of the markets. pic.twitter.com/DBNqARPeRW
— Michaël van de Poppe (@CryptoMichNL) February 8, 2024
“Positive influence [спотовых] ETF is included in the price. The negative impact of ETFs is also factored into the price. Now we have returned to regular, organic growth of markets,” the expert added.
LMAX Group analysts emphasized that the first cryptocurrency has broken through the “short-term consolidation level.” This paved the way for growth to $50,000 with lower support at $41,800, the company believes.
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#Bitcoin: Recent consolidation broken opening the door for push through $50k. February 1st low now comes in as key short-term level to watch below. $BTCUSD pic.twitter.com/b0SwIp2OZp
— LMAX Group (@LMAX) February 8, 2024
Even before the growth, an analyst under the nickname Ali noticed on an indicator The Supertrendwhich gave a buy signal on the monthly Bitcoin chart at a price of about $45,000.
Let us remind you that the popular blogger PlanB suggested that after the upcoming halving, Bitcoin will become scarcer than gold and real estate, and its price will reach $500,000.
However, DecenTrader allowed a sale after halving the reward for miners. According to their forecasts, Bitcoin will reach a new all-time high in the fourth quarter of 2024.
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2024-02-09 13:32:30
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