Bitcoin will soon be above $ 60,000 again
Looking at the chart on the four-hour time frame, we see that the BTC/USD pair has good support in the moving averages of the MA200 and EMA200. A retest made on the previous break at $ 52,500 directing Bitcoin to higher targets looking at the previous high at $ 61770 as the first target and potential resistance.
Bitcoin is in the spotlight again after Tesla CEO Elon Musk announced that it has started accepting BTC as a payment method. Tesla has started accepting Bitcoin as a form of payment, according to its CEO Elon Musk. All of the company’s electric vehicles, including the world’s best-selling all-electric car, Model 3, can now be purchased with the BTC.
The recent jump seemingly formed a double-bottom pattern on BTC’s four-hour chart. Another increase in buying pressure that allows the price of Bitcoin to move beyond the MA100 and MA50 four-hour moving averages will add confidence to the optimistic outlook.
But breaking through the $ 60,000 resistance level will strengthen it. A Berish scenario with a chart like this is not even in sight, but anything is possible.
The FCA and strategic consulting firm BritainThinks surveyed 517 self-governing investors – who make investment decisions on their own behalf – in the UK.
The research showed that a new, younger, and more diverse “group” of investors is getting involved in cryptocurrency trading due to new applications’ availability. The financial supervisor further claimed that the younger generation is investing for the wrong reasons. Although newer individual investors are usually younger, this cohort is more likely to allocate their money to speculative investments such as Bitcoin while at the same time being less aware of the risk.
The latest stimulus package in the American economy pumped $ 1.9 trillion into their economy, which is the largest of the three incentive accounts so far. Stimulus checks make up about $ 380 billion of the stimulus package, and about $ 40 billion is expected to flood the cryptocurrency market. Mizuho estimated that many checks could go to Bitcoin and stocks because 61% of the respondents said that they would invest money in Bitcoin.
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