• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Spin & WinTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Spin & WinTry
No Result
View All Result
NewsBTC
No Result
View All Result
Picture of a bull with its horns pointed at a bitcoin
Nexo Logo

Bitcoin Shakes Off Bloody September As Price Breaks $50K, Headed For New All-Time Highs?

Best Owie by Best Owie
8 months ago
in BTC
Reading Time: 3 mins read
Advertisement

The crypto market has started on another recovery trend. This time, the price of bitcoin has crossed $50,000 after a slow month in September that had the entire market in a chokehold. Crashes rocked the space and cryptocurrencies succumb to the massive value loss that put the market in the red for most of the month. NewsBTC had reported that September historically saw declining prices and this year was no different. In short, September is “bad vibes”.

The month drew to a close with the weekend and trading volume had begun to pick back up. Low volatility usually experienced during weekends has helped give digital assets the needed push and this past weekend was no different. Prices had recovered some with the start of the new week. And after Monday’s trading day drew to a close, the early hours of Tuesday ushered in better prospects for the crypto market.

Related Reading | Billionaire Orlando Bravo Reveals He Owns Bitcoin And Why He’s ‘Very Bullish’

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Bitcoin had steadily climbed up from the low of $43K which it had started the month with and over the course of five days has added $7K to its value to help it break $50,000 once more. This spells good news for the market as bullish sentiments have returned with this new break. Exchange balances remain low which shows that investors are continuing to hold on to their coins. And despite mounting selling pressure through these past weeks, hold sentiment has dominated throughout the bitcoin community.

Bitcoin Getting Back On Track

Bitcoin had maintained an upward momentum which put it on track to a new all-time high before the September crashes reversed that trend. But nevertheless, the month spent with low momentum gave the asset a much-needed cool-off time before its next bounce towards a new all-time high. After hitting the $50,000 price point, bulls look towards taking the asset above $52K for a setup towards $60K.

Bitcoin price chart from TradingView.com

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!
BTC price crosses $50K | Source: BTCUSD on TradingView.com

The recovery above $50K is bringing traders back into the market as the Fear & Greed Index once again goes into greed. Moving up 29 points on the index to take the market out of extreme fear from the close of last month. This turn in market sentiment will result in mounting buy pressure on investors, pushing them to throw more money into the market in order to not miss the next rally.

Related Reading | Why The Bitcoin At $100K Discourse Remains Strong Despite Market Crashes

This will inadvertently lead to an increase in the value of the asset, and by extension, the entire crypto market stands to gain from this buying pressure given that the market generally follows the price of bitcoin.

Bitcoin is currently trading at a little less than $50K at the time of this writing, owing to significant resistance from the $50K point it had hit not too long ago. The asset is up 4.67% in the last 24 hours and the market cap sits at $939 billion.

Featured image from CryptoPotato, charts from TradingView.com
Tags: bitcoinbitcoin pricebtcbtcusdBTCUSDT
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Best Owie

Best Owie

Related Posts

Bitcoin

TA: Bitcoin Reclaims $30K, Why Bulls Face Uphill Task

1 day ago
Bitcoin

TA: Bitcoin Trims Gains, Why BTC Could Start Fresh Decline

2 days ago
Bitcoin

TA: Bitcoin Eyes Fresh Increase But This Level Is The Key

3 days ago
Bitcoin

TA: Bitcoin Holds Key Support, Why BTC Must Clear This Resistance

4 days ago
bitcoin

This Expanding Triangle Pattern Could Be The Last Hope For Bitcoin Bulls

5 days ago
bitcoin

Bitcoin Marks Seven Consecutive Red Candles, Paints Gruesome Picture For Market

5 days ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Wildcoins Casino

Wildcoins Casino

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

DeHub Launches The First Blockchain End-To-End Entertainment Hub

May 21, 2022

Carbon Removal Marketplace Achieves Key Milestone

May 21, 2022

NFCore (NFCR) Is Now Available for Trading on LBank Exchange

May 20, 2022

How to Gain Great Sums with Quitriam Finance (QTM), Cosmos (ATOM), Flow (FLOW)?

May 20, 2022

3 Cryptocurrencies that could give you Greater Gains: Mushe Token (XMU), Cardano (ADA), and Polkadot (DOT)

May 20, 2022

ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win
  • Spin & Win

© 2021 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.