The price of Bitcoin (BTC) is back over the $50,000 mark.
Analysts believe that this is only the beginning and the price could hit a new Highs.
Other altcoins show similar trends as the Fear & Greed Index shows ‘Extreme Greed’.
The latest crypto bullrun seems to have been enough to turn the tides for the crypto market. After the big dip a few months ago, the market saw much fear with traders resorting to panic-selling and dumping their cryptos.
However, thanks to firm believers, long-term hodlers, and seasoned crypto analysts — the crypto market eventually rallied. According to most crypto experts, this was an event that was set to happen.
Besides Bitcoin, many other altcoins rallied as well. These include ETH, BNB, IOTX, ADA, SOL, AXS, and many more. More importantly, it seems the next crypto rally isn’t far behind. Some say that this small surge is only the beginning of a massive upcoming price run.
The market is bullish with the steady strong push into new highs keeping trade positioned for rallies. The weekly chart implies pressing bull moves to 51572. Any corrective dips should only last 1-2 days to maintain the momentum of the drive and suspect support around last week’s 48075 congestion. A close under 43935 is needed to alert for a short term top.