Bitcoin made its way to $ 75k: Reaching a new all-time high
- (BTC) built momentum over the past week, towards new possible highs above $ 70k.
- On Wednesday morning, the leading cryptocurrency set a new all-time high of $ 64,863.10 following a week-long bull run.
- Over the past seven days, BTC has risen almost 12 percent, confirming its bullish momentum.
- Many analysts have linked the bull market trend of Bitcoin and other altcoins to the launch of Coinbase on the Nasdaq exchange.
Bitcoin is continuing its streak in 2021, breaking new records with the prospect of breaking more. One of the prospects that many investors and enthusiasts will love, will see Bitcoin trading at $ 75k.
Bitcoin made a new all-time high
After a good run, Bitcoin (BTC) broke through $ 63k to establish the new ATH at $ 64,863.10. The run started on April 7, with BTC trading at $ 58,186.51, peaking on Wednesday, April 14, when the flagship cryptocurrency set new ATH at almost $ 65k. .
Bitcoin’s run has defied all odds and critics have been waiting for the Bitcoin bubble to burst from the beginning of the year until now. While they continue to wait, BTC is creating even more momentum, considering higher targets in the coming weeks.
Build Momentum for $ 75k
Earlier this year, talking about Bitcoin at $ 60k was seen by many as crazy. Today, however, BTC is currently trading above $ 62k while aiming higher and the charts are in its favor.
A breakout above the $ 62,000 zone means BTC has formed an ascending triangle pattern on the 4-hour chart. Left over $ 62k could see BTC skyrocket above $ 65k or possibly even higher in the short term. The only thing that can deny this trend is if BTC drops below $ 59,000.
If Bitcoin and the entire crypto market hold its upside, then Bitcoin will inevitably break higher. The first major milestone it hits will be $ 70k before rising even higher to $ 75k. Even if the uptrend plays out, we should expect a short-term pullback or two as Bitcoin moves to new highs.
The crypto market entered Bitcoin during the bull run as it climbed into undiscovered territory Wednesday morning, surpassing $ 2.23 trillion by market cap. Motivation was built when Coinbase first launched on the Nasdaq.
On the Flipside
- Bitcoin is seeing a rebound after breaking out of its previous all-time high of $ 62k.
- During the early hours of Wednesday, Bitcoin peaked at $ 64,863.10 before the plunge started.
- The biggest cryptocurrency’s 24-hour chart shows a 2% drop in price, meaning that BTC is currently changing hands for around $ 61,918.
Coinbase is currently active on the Nasdaq
Coinbase, the most valuable cryptocurrency exchange with a market valuation of around $ 100 billion and 56 million verified retail customers, opened its doors on the Nasdaq. To many surprise, Coinbase avoided an initial public offering (IPO).
Instead of an IPO, Coinbase chose to list directly. Direct listing is known to save costs and give existing shareholders the option to sell their stock immediately. Coinbase opened on the Nasdaq on Wednesday morning with a reference price starting at $ 250.
Coinbase’s launch on the Nasdaq made it the first major cryptocurrency business to list on the US stock exchange. Many analysts have attributed Bitcoin’s bullish trend to be due to Coinbase’s listing on the Nasdaq.
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