Bitcoin refuses to 'die' as BTC price hits $40K just three days after crash

Bitcoin refuses to 'die' as BTC price hits $40K just three days after crash


Bitcoin (BTC) surged higher on Jan. 14, reaching $40,000 on Coinbase amid fresh evidence of new large buys on exchanges.

BTC/USD weekly price candles (Coinbase). Source: Tradingview BTC price adds $10,000 in 3 days

Data from Cointelegraph Markets and TradingView tracked BTC/USD as the pair delivered even more bullish surprises during Thursday trading, adding over 17% in 24 hours.

Trending: CASTLE ROCK: New Theory Says Biden Is On Movie Set, Not In White House

The uptick is the latest bullish sign to come from Bitcoin price action, which just days ago focused on levels not much above $30,000.

The revisiting of $40,000 came hours after BTC/USD entered and appeared to flip a crucial resistance zone to support at around $38,000.

“That one needs to flip. If it does, we’ll be eager for new all-time highs. If not, more consolidation likely,” Cointelegraph Markets analyst Michaël van de Poppe summarized in a prior tweet.

Others were already bullish beforehand. Tyler Winklevoss, co-founder of Gemini exchange, referenced various press reports of a “crash” in Bitcoin as it slid to $30,250

Continue reading

You Might Like

Do NOT follow this link or you will be banned from the site!
Thanks for sharing!
Send this to a friend