Bitcoin cracked $52K on some exchanges like Coinbase and is about to hit a market cap of $1 trillion which is the most important level yet. The cryptocurrency got through its first major hurdle of $52,000 so the next level awaits at $54,000 but let’s look into the price analysis of our Bitcoin news today.
The $54,000 level is the only remaining threshold on the way and once BTC goes past it, trillions in the capital will follow. BTC took out $52,000 a day after piercing through the $50K level per coin for the first time ever. The price per coin is now more than double from the previous bull market peak with the prices below five digits being a forgotten story. If the momentum continues, the cryptocurrency could surge to even six figures. Bitcoin cracked $52K on Coinbase which is still the leading crypto exchange and a place where Tesla and other major companies got their own coins which explains the constant premium per coin on the exchange.
The consolidation at the $50K region was likely to build up even more momentum to push BTC through the resistance level of a $1 trillion market cap. The bigger investors are all focusing on the BTC total market cap with a current cost per coin being less than 5% away from setting this record. At $1 trillion, BTC will make it into the world of finance and will never be denied after. At that size of a market cap, BTC will have enough liquidity for big investors to continue buying it and will support the ongoing parabolic price trend.
As reported earlier, Within moments of hitting the $50K range, the sell orders started signaling and the initial rejection will most likely suggest that the psychological resistance levels will be tough to crack. Bitcoin breaking past a pivotal level this high is the first time in history so here’s what could happen next. BTC poked above $50,000 for the first time ever and the price point was a good place for sellers to set for the short or long-term price targets for their investment. When the price action made its way above $50K, plenty of sell orders started showing up and pushed bitcoin $2000 below again.
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