8 months ago
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Bitcoin’s (BTC) trade price almost hits the $55,000 level amid the positive sentiments in the crypto market but analysts warn against significant potential correction.
The current trade price of Bitcoin (BTC) is $54,452 & this trade price is 5.27% higher over the last 24 hours.
Multiple factors are supporting this sudden pump in the trade price of almost every flagship crypto asset.
In the latest, Bitcoin bull company Microstrategy revealed via a filing that it purchased 3,000 BTC. Now this company holds a total of 193,000 BTC for an average price of $31,544.
MicroStrategy has acquired an additional 3,000 BTC for ~$155 million at an average price of $51,813 per #bitcoin. As of 2/25/24, @MicroStrategy now hodls 193,000 $BTC acquired for ~$6.09 billion at an average price of $31,544 per bitcoin. $MSTR https://t.co/micudbYf3P
— Michael Saylor
(@saylor) February 26, 2024
So here we can say that Microstrategy is currently at 75% profit which is equal to $4.5+ billion profit, at the current trade price of Bitcoin.
Notably, here Microstrategy purchased Bitcoin at a $51,813 trade price, which is very high over the average Bitcoin buy price by this company. This factor dragged the attention of big investors. The majority of Bitcoin investors are considering that a big bull run is very near & this is the reason why Microstrategy is buying Bitcoin at high prices blindly.
Crypto analysts believe that the trade price of Bitcoin is not going to stop here. Within the next few weeks, it is expected that Bitcoin will hit the $61,000 level.
#Bitcoin $61,000 target still in play. 
#BTC still consolidating after its recent rally from the $42k level. A hammer candlestick is forming on the daily.
Tenkan 
is now the level to watch. Bitcoin would regain its bullish momentum if it manage to close above it.
If it… pic.twitter.com/DdydjASU6x
At present, the top buy support level is $47.4k & this is the lowest trade price that can be under the worst scenario if the market crashes.
Amid this Bitcoin rally, the trade price of the majority of the crypto assets is surging rapidly. The trade price of the top smart contract crypto blockchain Ethereum is $3,177.
Read also: Crypto giant Reddit & blockchain leader Google collabs for AI training
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