Bitcoin Clears Key Range as Analysts Eye Move to $55,000 in Near-Term

EtxuEM XEAAqSeP 980x575

Bitcoin saw some wild price action yesterday on the heels of news surrounding Tesla’s massive $1.5b Bitcoin purchase The crypto instantly rallied from the upper-$30,000 region to highs of $45,000 before it found some resistance Following a brief consolidation phase and slight selloff, the crypto kicked off round two of its uptrend later in the afternoon, surging to fresh all-time highs of $48,000 Its price now seems to be fairly stable and isn’t showing any immense signs of weakness at the moment This could indicate that a significant move is higher in the short-term and that late buyers who are scrambling to gain exposure are helping drive it higher One analyst is now setting his sights on a move up to $55,000 in the near-term Bitcoin and the entire crypto market have rocketed higher throughout the past couple of days, with sellers unable to gain any serious ground against buyers…

Read the original article here