The weekly trade began with a huge upward thrust, which raised the price of bitcoin above horizontal consolidation. Meanwhile, the last push suggests that market participants have become extremely optimistic on Bitcoin, activating the objective of the week at $ 100,000.
Why does the price of bitcoin increase?
Bitcoin Bull Run seems to have intensified while prices passed $ 93,000 before the closing of the day before. Multiple reasons have triggered the increase, including the relaxation of the trade war between the United States and China, Paul Atkins becoming the new president of the SEC, and President Trump specifying that Jerome Powell will remain the president of the Fed. These reasons could have triggered a sharp increase in the price of the BTC, because of which Bitcoin has now become the fifth largest asset, exceeding Google.
The M2 world offer has struck a new ATH, and as the BTC price closely follows the M2 offer, a new ATH seems to be on the horizon. The growing certainty has also increased optimism among institutions, because the Bitcoin ETF recorded their biggest daily entrance in the last 3 months yesterday. Cryptographic markets, in particular bitcoin, decoupling with American stocks and catching up, could be the main reason for institutional accumulation.
What is the price of the price of Bitcoin (BTC)?
The price of Bitcoin has maintained a strong ascending trend regardless of the lower influence on the token. The price increased above a level of crucial resistance, which validated a reversal of lower captivity. However, techniques must still become bullish, referring to a potential bull run on maps.
The price increased above $ 88,500, and a daily fence above this level suggested the start of a new bull race. MacD levels are about to undergo a bullish crossing while the CMF tries a bullish divergence and goes from 0.
