Bitcoin (BTC) hits $ 50,000 for the first time in a month on October 5th as the welcome comeback continues.
BTC price hits 1 month high
Data from Cointelegraph Markets Pro and TradingView show BTC / USD rose another 5% on Tuesday to quickly return to psychologically important price levels.
As the recent success of Bitcoin’s “Uptober,” the bears were swept aside as resistance levels plummeted.
The largest cryptocurrency has benefited from the macro uncertainty that comes with mass social media outages affecting Facebook, Instagram, and others.
For Cointelegraph employee Michaël van de Poppe, a look at the previously proposed bullish price behavior is the more likely inference for current moves, with declines also limited to the range
“Given the historical price implications, it seems more likely that Bitcoin will break out to around $ 50,000, or perhaps even recent highs, and then drop to $ 49,000 before rising again,” he said in his latest post YouTube update.
He added that the “ideal” exit zone to retest would be around $ 47,500, but a lower number would not be in the bulls’ favor.
Altcoins are slowing down from the mark
Bitcoin now leads the big altcoins at the time of writing, these altcoins are slower to react.
Related: Bitcoin beats stocks, commodities become the most powerful investment of 2021
Only Dogecoin (DOGE) achieved larger gains in the last 24 hours, which is 10% compared to 5% from BTC thanks again openly hidden by Elon Musk.
In contrast, the largest altcoin (ETH) is 2% higher and is just over $ 3,400.