Price Analysis

Bitcoin Price Above $40K, Ethereum Price Above $2600, Is Bull Run Resumed?

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Highlights

    The bitcoin price rose above $41k, probably carrying on with the bull run, speculated to hit the highs soon

    On the other hand, the Ethereum price also stood strong above $2600 manifesting a mammoth rally approaching soon

    The altcoins also surge high flipping the bearish divergence and hence giving a hint of resumption of an Altseason

Bitcoin Price May Hit $50,000 Soon

Bitcoin price after multiple rejections at $40,000, successfully ranged above these levels and held an upper hand above $41,000. The BTC price appears to be very volatile and hence a pullback might be on the corners. 

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However, despite the pullbacks, the price after clearing the barriers at $40,000 could propel towards the next levels. These levels reside at the higher end above $50,000 as predicted by a popular analyst Shelby.

The analyst also set the initial target for the BTC price at $42,000, $45,000, later at $47,000 and eventually hit $50,000 soon.

Has The AltSeason Resumed?

The altcoins had also absorbed a silent trend as the market witnessed a huge downtrend in the recent past. While many altcoins lost their momentum and plunged drastically, some of the altcoins sustained the trembled situation, keeping the altseason hopes alive.

Crypto space was too speculative since the past month market crash as no notable boost would propel the price towards the lost positions. Many also feared for much lower levels for major altcoins, yet a rebound in time dismissed the possibility. However, the altseason is expected to continue to reach higher levels in summer.

The altcoin market cap is again approaching the $1 trillion milestones at an aggravated pace and hence the growth in the BTC price may rally the crypto space to higher levels. If the bitcoin price propels to the expected levels, the probability of the other altcoins exploring higher levels may also increase. And hence giving life to the Altseason 2021 again.

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Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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