Bitcoin (BTC) Shows Bullish Signs as Price Surges
Bitcoin (BTC) has experienced a recent surge in price, moving away from the $25k level of support and reaching the mid-$26k range. Although while it’s too early to determine if this marks the start of a whole lot of rally, the past few days have seen positive trend price action that has attracted more buyers to Bitcoin.
Bitcoin (BTC) Faces Resistance Levels
On September 12, Bitcoin’s price rose from $25.2k to face resistance at $25.82k. After some struggle, it managed to breach this resistance and continued climbing towards $26.4k. Nonetheless, it faced another rejection and dropped back to $25.82k before trying to breach $26.4k again on September 13.
Despite the fact that Bitcoin (BTC) stayed over the $26k level this time, it encountered resistance once more. Regardless of plenty of attempts at growth, it couldn’t surpass the barrier at $26.8k over the last 24 hours.
Probable Bullish Wave for Bitcoin
There is speculation that Bitcoin (BTC) could experience another positive trend wave that pushes its value beyond the present barrier and even back to $30k, a level not seen since mid-July. Nonetheless, some analysts caution against going long right now due to long stop-losses.
Rumors of BlackRock Shifting Focus to XRP
Rumors have resurfaced in the cryptocurrency industry suggesting that BlackRock, a major financial giant, could be considering shifting its focus from Bitcoin (BTC) to XRP Ripple (XRP). Even though these rumors are unconfirmed and speculative, they could have a whole lot of impact on Bitcoin’s future price if accurate.
Deutsche Bank’s Influence on Bitcoin
Analysts have attributed Bitcoin’s sudden positive trend transformation to recent news from Deutsche Bank. The German lender announced its intends to offer custody services for digital currencies and tokenized assets, partnering with Swiss fintech company Taurus. This move indicates growing institutional interest in digital assets.
Bitcoin (BTC) BSC Presale Hits Milestone
A Binance Smart Chain-based project offering a BEP-20 version of Bitcoin (BTC) has reached the $2 Million milestone in its presale. This project intends to allow buyers to purchase Bitcoin at the price it was in 2011 ($1). The token has seen high demand, with users rushing to buy it at a cost of $0.99. The presale will continue until reaching the soft cap of $3.96 million.
Hot Take: Bitcoin’s Future Amidst Shifting Institutional Confidence
Bitcoin’s recent price surge and probable shifts in institutional focus suggest a changing landscape for the digital currency. Although while some believe it might experience further growth, others advise caution due to long stop-losses. In addition, rumors of BlackRock considering XRP Ripple (XRP) instead of Bitcoin (BTC) and Deutsche Bank’s entry into the cryptocurrency custody space add further uncertainty. Regardless of these developments, Bitcoin (BTC) continues to attract buyers and push against resistance levels, indicating ongoing interest and probable for future gains.
Insa’s extensive background in the financial realm encompasses roles as a writer, trader, and personal finance coach. Her proficiency spans a wide spectrum, ranging from commodities and indices to forex and cryptocurrencies. Insa’s specialization lies in furnishing strategic investment advice tailored to the fintech investment niche.