Bitcoin (BTC) is currently causing a lot of guesswork among crypto investors, because the US $ 50,000 mark, which was only jumped today, appears to be on clayey feet.
On the way to $ 180,000?
As the data from Cointelegraph Markets Pro and TradingView show, for BTC / USD it is currently literally a back and forth along the psychologically important 50,000 US dollar hurdle, which was reached for the first time in two weeks.
Although the market-leading cryptocurrency gained a strong 4.5% today, three of the top 10 Altcoins are doing even better with gains of more than 7%.
In view of this far-reaching strength in the market, investors and crypto experts are currently particularly optimistic about the further price development.
“If you jump over $ 50,000, it moves towards $ 58,000 – $ 60,000. We are currently above the 200-day MA, which now acts as a support, “such as the trader Pentoshi means. He adds:
“Where is the course headed next? A tripling of the record high is conceivable, which would land us at 180,000 US dollars. A new record high will not be reached just to improve it by 10%. We are about to move on to this final phase. “
A price target of 180,000 US dollars is already quite high, because even the optimistic Stock-To-Flow (S2F) calculation model “only” outputs a price of 135,000 US dollars until the end of 2021.
“So far, against all prophecies of doom, September has turned out to be a strong month,” as the crypto expert Rekt Capital again said added.
As Cointelegraph had reported, the Bitcoin price braces itself on the first two days of the new month against the trend of the previous September months, which have always been quite weak.
Above all, the continuing interest of institutional investors could now ensure that things turn out differently this time.
“Many large and important institutions bought Bitcoin over the summer,” says Mike Alfred, founder and managing director of BrightScope & Digital Assets Data, in this context notices. And further:
“They will disclose their purchases between September 7th and November 19th. Look forward to the show. “
Cardano takes a breath after chasing a record
In the case of Altcoins, it is Cardano (ADA) and Ether (ETH) who initially take a short break from their climbing games.
For ADA / USD this breather comes at the right time, because today a new record high was reached, while ETH / USD is approaching a high of several months at 3,800.
As Cointelegraph reported, Polkadot (DOT) could be the next altcoin to make massive gains.