Bitcoin rebounds below the 200-day moving average, and CoinQuora is expected to reach $50,000 soon

© Reuters.Bitcoin rebounds below the 200-day moving average and will soon reach $50,000

  • Nearly $50,200.
  • BTC rose by 200-day moving average.

Bitcoin continues to dominate the cryptocurrency field with its overwhelming market value of nearly 1 trillion U.S. dollars. In addition, Bitcoin is still the number one digital asset in the crypto market. Bitcoin’s outstanding reputation and position in the industry make it one of the favorite virtual assets of investors and analysts inside and outside the ecosystem.

This made Rekt Capital, cryptocurrency traders and analysts react:

A tweet issued by Rekt Capital explains the current state of Bitcoin under the 200-day EMA. In addition, the tweet explained that Bitcoin was almost close to recovering the $50,200 mark as its support level. This tweet collected different opinions in the Twitter (NYSE:) community, some people agreed, some people disagreed.

In any case, Bitcoin is one of the most recognized crypto assets in the world. It has been recognized by some countries and companies around the world. El Salvador is one of the countries on this planet that believes in Bitcoin technology. In fact, the president of the country announced that they are planning to build a Bitcoin city without taxes.

At the time of writing, Bitcoin is trading at more than $49,000, with a growth rate of more than +4.6% in the past 24 hours. If this upward trend of Bitcoin continues, the price of digital assets may surge immediately. But of course, it all depends on the bullish market and the investors inside its network.

Continue reading CoinQuora

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