Bitcoin breaks $43K and crypto fans are optimistic once again after months of stress

After weeks of wait, finally, the crypto market rises from its ashes and breaches the $43K level, and records the highest price in the last months.


After this blast in Bitcoin, traders are hoping that this would be a sign of a bull market. On August 6, BTC saw its price jump up to a high of $43,231 which is the highest in the past couple of months since the major fall in May 2021. Data from Tradingview illustrates that on Friday morning the rally started in the early hours of the day which raised the price of Bitcoin up to $43,231. This is the highest price BTC has reached since the infamous bloodbath of BTC on May 19.


Source: TradingView. BTC/USDT 4-hour chart.

It must be mentioned that, since the start of this week, a couple of analysts mentioned that a bigger rally was expected according to the bullish signals from multiple indicators like cross-over between two moving averages. This had happened previously prior to the 2020 bull market.

Since it was the first time that BTC broke its multi-month trading range, this new high at $43,231 was of great significance as analyst Rekt Capital puts it.


Rekt Capital:

“BTC has successfully claimed the 200-day EMA as support, a long-term gauge of investor sentiment towards BTC. BTC has also successfully claimed the 21 week EMA as support, a bull market indicator. The market is getting bullish.”

Data shows that the Bitcoin dominance rate stands at 46.2% and $1.719 trillion is the total cryptocurrency market cap.



Latest News

$150 million in USDT was frozen by Tether

A rationale for blacklisting three addresses has not been given by Tether, although it has done so in the past to cooperate with law enforcement and help exchan ...

JAN 14, 2022

Pakistanis have $20 billion in crypto assets

The local association chief said that Pakistanis have $20 billion in crypto assets, and they need to set up a policy for that. ...

DEC 22, 2021

With many parachain deployments, Polkadot anticipates disrupting Web 3.0.

Parachains have been among the greatest achievements of Polkadot and it took Polkadot five years to build them which were auctioned off to teams. ...

DEC 19, 2021

Reddit will go public

Internet forum Reddit Social network announced its plans of going public and it is filing for an IPO. ...

DEC 17, 2021


Bull Market



Bull Market