Top Analyst Says There's ‘Some Hope' for Bitcoin if BTC Rises Above Major Resistance Level – But There's a Catch
Key Resistance Level: $50,000 Bitcoin has been on a rollercoaster ride in recent months, with its price surging to an all-time high of over $64,000 in April before plummeting to around $30,000 in May. Since then, the crypto asset has been slowly climbing back up, currently trading at around $46,000 at the time of writing. Analyst's Perspective: According to the analyst and trader, if Bitcoin can break through the key resistance level of $50,000, it could open the doors to further gains. This level has been a major hurdle for the crypto asset, and breaking through it could signal a shift in market sentiment towards a more bullish outlook. The Role of Institutional Investors: One factor that could contribute to Bitcoin's potential rise is the growing interest and involvement of institutional investors. Companies like MicroStrategy, Tesla, and Square have all added Bitcoin to their balance sheets, signaling their confidence in the digital asset as a long-term investme...