• Advertise
  • Submit a Press Release
  • About Us
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Casinos not on Gamstop
      • Real Money Casinos
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Play FinanceTry
  • Claim 7 BTCTry
No Result
View All Result
Breaking News: Coinbase Caught In SEC Legal Crossfire, COIN Price Suffers
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Casinos not on Gamstop
      • Real Money Casinos
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Play FinanceTry
  • Claim 7 BTCTry
No Result
View All Result
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Caught In SEC Legal Crossfire, COIN Price Suffers

Bitcoin Gains Significant Momentum, Rising Above 50-Day Average

newsbtc by newsbtc
5 years ago
in Bitcoin
Reading Time: 3 mins read

Things are slowly coming together for Bitcoin as of right now. With the BTC price noting a 50-day high the current situation looks pretty interesting. While this may not indicate a bull market just yet, it is a positive sign altogether.

Bullish Bitcoin Price Momentum?

For the first time in a while, the daily Bitcoin price closed over the 50-day average. To most speculators, that may indicate a bullish signal to buy Bitcoin in the near future. It is not necessarily a sign of things to come, as this market remains incredibly speculative and volatile at all times. However, a small jump above this 50-day average can indicate big things are on the horizon for the BTC price.

Even so, the Bitcoin price is still struggling when looking at the bigger picture. Compared to late last year, the value is still down by nearly 35%. Recovering those losses will be challenging, even for the world’s leading cryptocurrency. This current Bitcoin price rebound comes on the heels of earlier signals regarding a potential value increase. Creating a new Bitcoin price rally will not be easy unless a major development occurs.

At the same time, the BTC price seems to have overcome the big correction earlier this year. With the value now remaining somewhat stable above $10,000, the situation doesn’t look half bad. That doesn’t mean we may not see further corrections, but for now, the bullish signals are converging. A new Bitcoin push can result in major value gains. For now, it seems the status quo may continue for quite some time to come.

Bitcoin is Still Evolving

Other bullish factors exist as well. We see the Bitcoin Dominance Index rise significantly over the past few days. Right now, the BDI sits at 41.6%. It is still a far cry from the 80% Max Keiser predicts, but it is certainly possible this percentage will continue to increase. Right now, it seems Bitcoin is the go-to cryptocurrency once again, whereas most altcoins are suffering from a lack of momentum. Especially Ethereum is looking rather fragile as of right now, for some unknown reason.

The successful increase in SegWit-based network transactions also plays a big role. While the number of transactions appears to go down, they are batched into bigger groups. That is a positive development, as it helps reduce overall fees and confirmation delays. For the BTC price, this may be another bullish factor in the long run. Once the world’s leading cryptocurrency effectively starts to scale, all altcoins will have to step up their game accordingly.

All things considered, things look pretty solid for Bitcoin as of right now. We see some bullish price signals, technical developments, coming together, and an overall lack of interest in most altcoins. It doesn’t happen often all of these stars align so perfectly at the same time. Whether or not it will lead to a BTC price push, remains to be determined. The overall momentum is certainly in favor of the world’s leading cryptocurrency as of right now.

Tags: bicoinbitcoin investmentbitcoin pricebitcoin tradingSegwit
Tweet123Share196ShareSend
newsbtc

newsbtc

Related Posts

Stablecoin

Bitcoin Slips Below $26,000, Triggers Over $300 Million In Liquidations

4 days ago
Bitcoin (BTC)

Traders Act Fast As Binance Australia Unveils Bitcoin Discount For Limited Period

2 weeks ago
Bitcoin (BTC)

No All-Time High For Bitcoin In 2023, Former BitMEX Head Arthur Hayes Predicts

2 weeks ago
Bitcoin

Bitcoin Shows Recovery: Did This Historical Line Act As Support Again?

2 weeks ago
Bitcoin Core

Bitcoin Core 25.0 Hits The Market: A Sneak Peek Into The Future

2 weeks ago
Bitcoin (BTC)

JPMorgan Predicts Bitcoin (BTC) To Revisit $45,000, Here’s Why

2 weeks ago

Premium Partners

Play Finance

Now Trending

  • Potential 20x+ Crypto Presales 2023

    1 week ago
  • Willing to buy new crypto: Here are the best 10...

    1 week ago
  • Best Crypto Meme Coin Presales in 2023

    1 week ago

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
mBit

mBit

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

  • Decentraland (MANA) Records Unimpressive Performances As...

    3 hours ago
  • Litecoin Set For 5X Rally, But This P2E Token DigiToads Can...

    18 hours ago
  • Elon Musk Says AI Is The Most Important Technology Of Our...

    19 hours ago
  • Further Upside Prediction For Dogecoin and Shiba Inu...

    22 hours ago
  • SandBox (SAND) and Decentraland (MANA) Don’t Even Come...

    24 hours ago

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.

Cryptocurrency news

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

Technical Analysis

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

Company

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

© 2023 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Casinos not on Gamstop
      • Real Money Casinos
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
  • Claim 7 BTC

© 2023 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.