Bitcoin price continues to rise 4% to above $ 53,000, was predicted there are new highs ahead for the flagship cryptocurrency
Bitcoin price continues to rise 4% to above $ 53,000, trading at $ 53,633. Over the past 24 hours, Bitcoin was trading as low as $49,390, and the highest was recorded at $ 53,737.
BTC/USD 4-hour chart | Source: TradingView
Bitcoin price has risen continuously over the past 48 hours, helping to capitalize approximately $ 670 billion
According to CoinMarketCap, Bitcoin transaction volume over the past 24 hours was $ 48 billion, market capitalization was recorded at $ 969 billion. A series of smaller Bitcoin altcoins are also on the rise. Accordingly, Ethereum increased by 8.9% to $ 1,833, Binance Coin increased by 1.42% to $ 239, XRP increased by 1.8% to $ 0.473, Chainlink increased by 12.2% to $ 31.6, Litecoin by 1.9. % to $ 191.2.
However, for the whole week, Uniswap is the Altcoin with the strongest increase with 35.3%. This rally helped Uniswap capitalization record $ 17.3 billion, ranking 8th among the top 10 largest by market cap.
Bitcoin in particular and many altcoins, in general, have been steadily increasing this year as more and more financial institutions and influencers in this market are showing interest in Bitcoin. Tesla says it can accept payments in Bitcoin, and its founder Elon Musk is also actively investing in Bitcoin.
Recently, the company providing e-commerce services based in New York (USA) OLB Group (OLB) started promoting businesses to accept payments with electronic money.
There are new highs ahead for BTC
Peter Brandt, a widely followed cryptocurrency analyst well-known for accurately calling Bitcoin’s 84% decline in 2018, has predicted there are new highs ahead for this cryptocurrency.
Brandt’s prediction is based on technical analysis and fundamental drivers fueling the crypto’s rise. In a tweet sent to his over 435,000 followers, Brandt pointed to an inverse head and shoulders pattern on BTC’s price charts.
— Peter Brandt (@PeterLBrandt) March 5, 2021
Brandt isn’t just known for accurately calling BTC’s 2018 bear market, as the analyst has in the past made other correction predictions for the cryptocurrency’s price. In April 2019, the analyst set a $50,000 price target for the cryptocurrency “in the next two years.”
The price of bitcoin crossed the $50,000 mark earlier this year and hit a new all-time high above $58,000 before enduring a correction that saw it retest the $45,000 mark. It has since recovered and is now trading at $53,000.
You can see the BTC price here.
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