Bitcoin (BTC) gave traders a guessing game on Thursday as $ 50,000 looked increasingly fragile as a new medium.
Crypto sees ‘spectacular’ in September
The largest cryptocurrency posted 4.5% gains on the day, nonetheless being beaten by three of the top 10 altcoins, all of which managed to surpass 7%.
In a largely positive environment, traders were understandably bullish on the outlook for Bitcoin.
“Breaking above 50k = 58-60k to follow. Sitting above 200D MA which now serves as support,” Pentoshi abstract to Twitter followers.
“What’s your price discovery plan? Above these highs, 3x seems reasonable, or around 180k. You are not going to make new aths for 10% payout. On the verge of breaking through in this latest range.
A BTC price of $ 180,000 is a curious prospect for many and beats even the most optimistic Minimum target of $ 135,000 set by stock-to-flow creator PlanB for the end of 2021.
“September has been a spectacular month for Crypto so far,” trader Rekt Capital said. added.
Looking ahead, institutional reports can be used to make the weeks ahead even more intriguing.
“A lot of big and big institutions bought bitcoin over the summer,” said Mike Alfred, founding CEO of BrightScope & Digital Assets Data, Noted.
“They will announce their purchases between September 7 and November 19. Enjoy the fireworks display.
Crypto Suspends Cardano Gains At All-Time Highs
ADA / USD hit new all-time highs earlier today, while ETH / USD approached $ 3,800, its highest level since May.
As Cointelegraph pointed out this week, Polkadot’s DOT is considered the next altcoin to see major gains.