Bitcoin Flirts with $36,000 as Rally Seems Unstoppable – Crypto News – Crypto News
Connect with us
Bitcoin Flirts with $36,000 as Rally Seems Unstoppable Bitcoin Flirts with $36,000 as Rally Seems Unstoppable

Cryptocurrency

Bitcoin Flirts with $36,000 as Rally Seems Unstoppable – Crypto News

Published

3 years ago

on

Alex Dovbnya

The digital currency touched $36,024 on the Binance exchange today, a high not seen since May 2022

Bitcoin recorded a peak of $36,024 on the Binance exchange earlier today. This mark stands as the cryptocurrency’s highest value since May 2022. 

At present, the coin is marginally below its peak, trading just above $35,000, according to Binance data.

A healthy rally? 

Industry observers are keenly monitoring Bitcoin’s current rally, with many offering their insights. 

Joe Carlasare, an early Bitcoin adopter, has noted that the ongoing rally is characterized by strength and steadiness. 

He points out the consistent growth in the currency’s value, contrasting it with previous parabolic price movements which were often accompanied by higher volatility.

It is worth noting that Bitcoin is down 48.98% from its all-time high, according to CoinGecko data. 

Rising euphoria on the horizon? 

Meanwhile, Henrik Zeberg’s recent tweet suggests heightened enthusiasm in the crypto space. He anticipates a significant surge in crypto prices, alluding to the possibility of a so-called “blow-off top”. 

A “blow-off top” in technical analysis of financial markets refers to a specific chart pattern. It is characterized by a sharp and rapid price increase, driven by extreme optimism, speculative buying, and a pervasive fear of missing out (FOMO) among investors.

This bullish perspective resonates with a lot of other industry analysts who believe that this rally may still have more room to grow.

About the author


article image

Alex Dovbnya

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Trending