Crypto Fact

Could Bitcoin Hit $50,000? In Wild World of Crypto Options, Some Say Yes

View BTC risks falling below $8,000 in the short-term, having created a doji candle last week. Below $8,000, the focus would shift to the 30-day moving average, currently at $7,643, which has a penchant for reversing price pullbacks. The outlook as per the daily chart would turn bearish if the price sees a UTC close below the 30-day MA. The long-term outlook will remain bullish as long as the price is trading above May’s low of $5,263. The case for a short-term correction would weaken if bitcoin bounces from the bullish 5-week moving average, currently at $8,220, and ends up clearing today’s high of $8,746. Bitcoin (BTC) could revisit sub-$8,000 levels in the short-term, as a longer-duration chart is flashing signs of bullish exhaustion for the first time this year. The world’s top cryptocurrency by market capitalization witnessed solid two-way business last week. Prices rose to fresh 12-month highs near $9,100 only to fall back all the way to $8,000 before registering a ...

The cryptocurrency markets saw rapid growth in May with quite a few outshining the largest by market capitalization, bitcoin. The leading cryptocurrency drew most of the attention, rising 67 percent from $5,265 on May 1st to $8,900 by month’s end. A considerable amount of the gains happened in the  lead up to  the New York Blockchain event, that took place during the second week of May. For instance, sharp rallies in bitcoin’s price on May 11 and May 13 pushed its price tag above $7,000 and then $8,000 for the first time in over a year. Despite logging its best monthly gain since 2017 however, BTC ranks tenth on the list of May’s best-performing cryptocurrencies, according to  Messari.io  data.   Names like Chainlink (LINK), Dent (DENT), bitcoin SV (BSV), Holochain (HOT) and bitcoin gold (BTG) took a clear lead, each rising between 65 and 256 percent against their respective trading pairs with the U.S dollar. The total capitalization of the broa...