Morning Tick
  • Latest News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Fintech
    • Altcoins
  • Market Analysis
  • Resources
  • Contact
    • About Us
    • Press Toolkit
Facebook Twitter Instagram
Morning Tick
  • Latest News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Fintech
    • Altcoins
  • Market Analysis
  • Resources
  • Contact
    • About Us
    • Press Toolkit
Facebook Twitter Instagram
Morning Tick
Bitcoin

Bitcoin (BTC) hits all-time high of $51K, Is the king coin steering towards $60K?

Staff ReporterBy Staff ReporterPublished February 17, 2021 on February 17, 2021
bitcoin
Share
Reddit Facebook Twitter LinkedIn Pinterest WhatsApp Email

Bitcoin [BTC] at $50K is the new normal, suggested Tyler Winklevoss, the CEO of cryptocurrency exchange Gemini. Bitcoin emerged as the most valuable asset as the coin jumped from a low of $16K to a current high of $51K. The king coin market cap was at $951 billion, and an increase in this number could help the entire market cap of the industry hit $2 trillion.

During the time of writing, Bitcoin was trading for $51,441 with a 4.85% increase in the last 24-hours. The asset hit an all-time high of $51,532, further targeting $52K. With this immaculate increase in the king coin’s price, the dominance of the asset also spiked. At press time, BTC was dominating the crypto market by over 62%.

Bitcoin one-day chart on Binance

bitcoin
Source – TradingView

The Bollinger Bands indicator used in the one-day price chart of Bitcoin announced that the coin was in for a surge in its volatility. The disparity between the bands indicated the possible fluctuations in the asset’s price. The Awesome Oscillator restored hope in the market by forming green closing bars. This bullish momentum advertised by the indicator could pose beneficial for the king coin considering the possible fluctuations in the price of BTC.

The Chaikin Money Flow indicator was above zero and seemed to have no intention of slumping below this mark. The asset has remained in this state since the beginning of this month.

Buyers’ sentiment habituates the BTC market

bitcoin
Source – TradingView

The one-day price chart of BTC revealed that the king coin was being overbought for the longest time now. Bitcoin had been exerting a buyers’ sentiment throughout November up until now. While the price of the king coin is luring in an array of people, the latest activity could further propel the price of BTC.

The narrative of Bitcoin vs Gold has been making the rounds in the crypto-verse for a while now. The parabolic jump that Bitcoin underwent made the community believe that the king coin entailed the abilities to overhaul gold soon. While BTC moves beyond $51K, gold was seen dropping down. Holger Zschäpitz tweeted about the same,

Looks as if #Bitcoin is eating #Gold. While the cryptocurrency hit fresh ATH >51k, Gold has dropped <$1800. pic.twitter.com/sCorEFrV2f

— Holger Zschaepitz (@Schuldensuehner) February 17, 2021

Bitcoin Crypto News Market Analysis
Disclaimer
Read More Read Less
The information provided on this website shouldn’t be considered as investment, tax, legal, or trading advice. Morning Tick is not an investment advisory platform, nor do we intend to be. The publication, its’s management team, or authored-by-line doesn’t seem liable for your personal financial losses, which may be due to your panic decisions based on the content we published. We strongly recommend considering our stories as just a piece of information, unlike advice, recommendations, or requests. Some of the contents may get outdated, updated, or inaccurate despite our profound editorial policies. We urge readers to do their due diligence before making any investments decision with ongoing IDOs, ICOs, IEOs, or any other kind of financial offerings. Few outbound links may be commissioned or affiliated, which helps us grow financially and maintain healthy editorial norms. For more information, visit disclaimer page.
Share. Facebook Twitter Pinterest LinkedIn Email Reddit WhatsApp
Previous ArticleWill Ethereum (ETH) ever hit $2,000?
Next Article Binance coin (BNB) continues to be overbought while trying to hit $150
Staff Reporter
  • Facebook
  • Twitter
  • Tumblr

Staff reporter brings the latest financial technology, cybersecurity news and tech updates.

Recommended Posts

VNX launches as the first European regulated precious metals tokenization platform

10 months ago

Matrix adds Block trading capabilities four more virtual currencies to its platform

12 months ago

OVR Global launches Map2Earn to crowdsource the largest high-precision 3D map of the world

January 30, 2022

Spielworks multichain treasure hunt NFT game brings users valuable rewards

January 12, 2022
Add A Comment

Comments are closed.

Latest

Introducing Lucky Mystery Box, Crypto lottery based on TRON with a prize pool of 1M USDT

2 months ago

GlobalDots joins forces with Coralogix to save companies 40-70% on full-stack observability costs, launching a debut CDN log management solution

3 months ago

KX.finance announces upcoming DeFi/DEX aggregator launch on APTOS/SUI blockchain

4 months ago

HyperBC Group unveils Zero interest Crypto Credit Card HyperCard, obtains Lithuanian Financial License

4 months ago

Unplugged launches its mobile App Suite to help consumers reclaim their privacy

4 months ago
Morning Tick
Facebook Twitter Instagram Pinterest RSS
  • About Us
  • Press Toolkit
  • Disclaimer
  • Contact Us
  • Privacy Policy
  • Sitemap
© 2023 Morning Tick. Disclaimer: The information provided on this website shouldn't be considered as investment, tax, legal, or trading advice.

Type above and press Enter to search. Press Esc to cancel.