With an intraday jump of 3.82% and a trading volume of $91.29 billion, the Bitcoin price has achieved a new all-time high of $97,862.64. With this, the market is highly anticipating the star crypto to hit the $100k mark in the upcoming hours.
Amid the present market conditions, will BTC price slingshot to $100k soon? Moreover, will the price maintain its bullish action after hitting the $100,000 mark? Or will the price experience a significant correction soon after?
With a monthly gain of 44.38%, the largest cryptocurrency by market capitalization has achieved a new high by surpassing the $1.9 Trillion mark. Notably, with a trading price of $97,577.28, it is presently valued at $1.915 Trillion.
Notably, the Bitcoin token successfully retested the $90k mark following which the star crypto has recorded 4 consecutive green candles, resulting in it surpassing the $97,000 mark during the early Asian trading hours.
The EMA 50/200-day continues displaying an upward trend in the daily time frame. This suggests a bullish outlook for the BTC price in the upcoming time.
Further, the Relative Strength Index (RSI) continues hovering above the overbought range with its average trendline experiencing a similar trend action. This indicates a significant increase in the buying pressure for Bitcoin in the market.
Maintaining its bullish sentiment could push the Bitcoin price toward its target price of $100k this weekend. Furthermore, if the bullish sentiment sustains, this could result in the market leader heading toward its upper high of $110,000 this month.
On the contrary, if a bearish trend reversal occurs, the BTC price will retest its $90,000 range. Moreover, if the bearish sentiment intensifies, this could pull the price toward its lower support level of $80,000.
Curious about what’s next after this crypto token hits $100k? Read CoinPedia’s Bitcoin Price Prediction and also follow us to stay updated on the latest crypto news!
With the fear and greed index at 86, Bitcoin is a strong buy today.
The last recorded price of the BTC around the $1 mark was between February 2011 and April 2011.
With only a few thousand dollars remaining, this cryptocurrency may achieve the $100k anytime.
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