Bitcoin surge inevitable, as seen by this analyst BTC bitcoin
An uptick in this indicator suggests that a yearlong increase in the Bitcoin price, as well as expectations for further upside moves, might have led traders to hold onto their BTC token rather than swapping it for other assets.In the absence of breaking news or impactful tweets, Bitcoin bulls and bears continue to battle toward $52,000, with an overall uneven risk appetite causing investors fear.
As investors watch with caution, the pull of buy-the-dip from its December low of $42,333 is stronger than anything else. The BTC/USD pair is now higher after bouncing off intraday lows of $50,480 earlier in the day. The price of Bitcoin has risen by more than 3.5% in the last 24 hours, indicating that the rally might continue.
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