IITMIND: EdTech, Finance and Crypto currencies



BTC has finally breached the $ 47,000 mark before the end of this week. This massive jump in BTC's price has sparked optimism among investors. Experts now have set their sights on a potential push towards $50,000 and then to the $53,000 mark after a little correction.

Even if Bitcoin fails to surpass recent highs immediately, the market will likely seek a new weekly higher low compared to the recent low at $38,500. This will provide a good support for bulls. The primary question for investors and traders is, whether the market will continue to see greater bull volume or if it will consolidate through February, although experts believe that macro indicators such as massive selling pressure by Grayscale have been reduced drastically, the upcoming CPI data report will play a crucial role in deciding the upcoming monetary policy by US Fed regarding the economy and for stock and digital asset markets as well.

The prices have been moving sideways on the daily chart for around three weeks and holding the support resistance after BTC rebounded from $38,500 to $43,100, which gives an optimistic outlook for bulls in the market. The recent price action has led to the formation of the "200-week golden cross" a level that significantly increases the likelihood of sustaining the rally. 

As of now, at the time of writing this article, BTC is trading at around $47,500 and is up by 6% in the last 24 hours and has gained 11.5%+ in the following week, BTC's market capitalization is $932 Billion followed by ETH's $302 Billion.

>> Disclaimer Risk warning:- Cryptocurrency Investment is subject to high market risk. The information on our website is for educational purposes only. Please do your own research before investing anywhere, we will not be responsible for your investment losses.

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