Bitcoin’s intense uptrend shows no signs of slowing down in the near future either. The cryptocurrency is now trading over $ 18,000.
Whether or not the mark can be broken permanently depends largely on whether or not trying to reverse the uptrend is possible at this point in time. There are already serious signs of exhaustion among sellers that they may not be able to catalyze a sell-off.
How the overall market trend will develop depends entirely on Bitcoin – and how the asset reacts to that level.
Bitcoin is pushing for new highs for the year as selling pressure eases
Bitcoin has not seen any intense sell-offs in the course of its recent uptrend. At the time of writing, BTC is trading at $ 18,010.
While the bears have tried to spark multiple rejections at this level, they don’t seem too strong for now.
BTC is experiencing the „longest and most stable“ rally ever
A trading company wrote in a tweet about the recent upward trend of Bitcoin , declaring that the Bitcoin price over the past 73 days is shot by cops by about 73% higher.
They consider this to be the „longest and most stable“ rally Bitcoin has seen in its history, as vertical moves like this are typically quick and short-lived.
„This BTC movement is becoming the trendiest (longest & most stable) rally in BTC history – 73 days and + 73% now with just two 10% returns on the way.“