Summary
Bitcoin has risen above its 50-day moving average, indicating a positive trend and alleviating concerns of a significant decline. The cryptocurrency market as a whole has also gained strength after a period of consolidation and is expected to reach new highs.
Key Points
1. Bitcoin has risen above its 50-day moving average, indicating a bullish medium-term trend and alleviating concerns of a significant downturn.
2. The broader crypto market has also gained strength after a prolonged period of consolidation, suggesting the potential for new highs.
3. Alex Kuptsikevich, FxPro senior market analyst, believes that bitcoin’s positive momentum and improved market conditions make it likely to continue its upward trajectory.