Bitcoin Rally Continues To Cross $56k Mark, Twitter Flooded With Reactions

KEYPOINTS

  • The price of bitcoin continued to rise beyond the USD 56,000 resistance level.
  • ONE, STX, and DYDX are up over 16 percent, while Ethereum is consolidating above USD 3,500 and XRP is meeting resistance near USD 1.20.

The price of bitcoin remains strongly supported above USD 55,000. BTC began a new uptrend and broke through the USD 56,000 hurdle.

It is currently trading above USD 56,000 (04:28 UTC) and the bulls may test USD 57,200. Furthermore, the majority of prominent altcoins are consolidating their gains.

ETH is currently trading near USD 3,500 and may begin a new upward trend. XRP is currently trading over USD 1.15, however it is seeing resistance near USD 1.20.

ADA has broken through the USD 2.20 barrier level, and it may now advance to USD 2.32.

WHO SAYS WHAT?

People are very curious about the no. 1 cryptocurrency. It became a part of bitcoin investor’s life to wake up and check the values everyday.

Microstrategy’s CEO Michael Saylor wrote:

There will never be more than 21 million #bitcoin, “ to encourage people to make it a part of their asset.

“Bitcoin has touched this mark before and it will continue to do so in the future. That’s how cryptos work. What’s more important is the investors reacting in a mature way. They are less greedy and more logical in their approach. This means there’s no panic buying or selling and thus no volatile dips. Bitcoin’s bull-run 2021 has begun and it’ll end on a high note by the year-end. This is good for cryptos’ future,”—Vikram R Singh, CEO at blockchain solutions company Antier Solutions told Financial Express Online.

Former Football player Peter McCormack speculates that bitcoin will soon hit its new all time high.

Meanwhile, El Salvador will open a pet hospital through bitcoin gains. Confirmed by President Nayib Bukele.

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