In the past few weeks, Bitcoin has come back into focus. After early summer was marked by a negative news flow and Bitcoin lost more than half of its value, the crypto world now looks completely different. In the past 24 hours, the crypto market as a whole has been stable and largely unchanged. However, things looked different with the most valuable cryptocurrency Bitcoin. Its price rose by over 5%. This could mean the end of the consolidation movement and Bitcoin could soon write new all-time highs. Should you invest in Bitcoin now?
Bitcoin at $ 50,000
The strong price increase of over 5% caused another test of the 50,000 US dollar mark. After there was only a short interlude above 50k USD in the last 14 days, the second test now follows. In the early hours of the morning, Bitcoin already overcame the important price region. Afterwards, however, the Bitcoin price fell slightly again. Bitcoin is currently slightly above $ 50,000. The next few hours should now show whether the outbreak will succeed this time.
Will the rally follow after the consolidation?
Since mid-August, the BTC has barely traded below $ 45,000. The consolidating sideways movement took place in an unusually narrow range for Bitcoin. On the downside, the US $ 45,000 limit was the limit that largely held. It was only enough for short trips above 50,000 US dollars. Once the consolidation is complete, the path to new record highs could be clear. The record high from the beginning of the year is getting closer. The sustained breakout above $ 50,000 would prove the strength of BTC and significantly increase the likelihood of a new ATH in 2021.
Twitter wants to integrate Bitcoin
There is currently hardly any negative news with Bitcoin. On the contrary, the news flow is positive. Now there were indications that the company Twitter is considering integrating Bitcoin into its own offering. The Twitter CEO and self-confessed crypto fan Jack Dorsey is promoting a Bitcoin feature for the microblogging service. With that, the creators of tweets could get BTC as a kind of reward for blogging. So far, such donations have been possible via Venmo or PayPal, for example. In the future, BTC could also be postponed via Twitter to reward the hardworking users. In the past, Jack Dorsey repeatedly emphasized that for him the future of Twitter is also linked to Bitcoin. The introduction of the so-called tip jar as a means of payment would therefore be logical.
Buy bitcoin now?
Bitcoin remains one of the basic investments for all crypto-savvy investors. With the strong price increase, BTC is once again proving its positive momentum. A sustained breakout above $ 50,000 could spur a new rally. There are currently few signs and fundamental news that could call the price development into question. Nonetheless, all crypto investors should keep an eye on the high volatility. Anyone who cannot stand this has no place in the crypto sector. However, if you have the right mindset, you could still achieve above-average returns with a Bitcoin purchase – and possibly benefit from a new ATH in 2021.
Buy Bitcoin: How to buy Bitcoin from our test winner broker eToro
The broker eToro is our test winner. With the following guide we will show you how to buy BTC on eToro.
Step 1: Register with the broker eToro
First you have to go to the EToro platform to register. To do this, click on the the green button “Register now”. Then you enter some personal data.
Step 2: Top up the eToro account with money and buy Bitcoin
Before investors can buy Bitcoin, money must be in the eToro account. To do this, click on the button “Deposit money”, around the deposit amount and the Payment method to select.
When the account is loaded with money, you can start buying cryptocurrencies. In addition enter “BTC” or “Bitcoin” in the search bar.
On the Button “Trade” you now give a buy order awayHere you can select different order types and the desired investment amount. Then you make the purchase and BTC is in the eToro depot
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