Crypto Currency News

Bitcoin price consolidates and hits the doors of $ 40,000

The cryptocurrency seems to have laid new support in the face of a new bull run.

Bitcoin ( BTC ) tries to consolidate as close to $ 40,000 as possible . The leading cryptocurrency broke the key barrier last night, and remained above the level throughout the early morning, until partially falling in the last hours. At the close of this note, the price of BTC is $ 39,756 .

Market sentiment appears to have changed. After several weeks of widespread pessimism, bullish expectations are beginning to gain traction. After holding above $ 37,000 for 48 hours, BTC seems to have laid new support in the face of a new bull run .

Anthony Pompliano , the popular crypto commentator, claimed that ” Bitcoin was never in a bear market . ” Despite the six weeks in which the cryptocurrency was stagnant between USD 30K and 35K, with serious setbacks towards USD 29K, the expert assured that its growth was never in doubt.

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” The critics became louder and new people were scared, ” explained ” Pomp ” after a period characterized by the sales of speculative investors and large accumulation processes of large investors (“whales”). “Strong hands have been building up a lot in recent weeks,” added the specialist.

Other market experts have pointed out that BTC will have to face strong resistance in the short term, in case it exceeds the barrier of USD 40K. The $ 43,000 and $ 44,600 are emerging as the most immediate targets for the digital asset .

Katie Stockton , a technical analyst and founder of Fairlead Strategies, even dared to forecast a jump to $ 51,000 should BTC manage to get past both barriers . To reach that peak, BTC will have to jump almost 30%, almost the same as it grew in the last 9 days.

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The main cryptocurrencies in the market had disparate movements, but in general terms they confirmed the jumps of the last few days. Ether ( ETH ), the leading altcoin, sealed its latest jumps with growth of less than 1%, and is trading at $ 2,294 . Binance coin ( BNB ) behaved in the same way, and its price is at $ 314.

Cardano ( ADA ) and dogecoin ( DOGE ) grew less than 2%, reaching $ 1.30 and $ 0.20 respectively. Bitcoin cash ( BCH ) and litecoin ( LTC ) were up more than 3% and their price hit $ 509 and $ 138 again.

Finally, the figure of the day was XRP . Ripple’s token spiked 10% and turned back towards $ 0.71, where it expects to make its way back to $ 1 again.

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