{"id":517024,"date":"2023-01-21T09:40:48","date_gmt":"2023-01-21T14:40:48","guid":{"rendered":"https:\/\/wncen.com\/?p=517024"},"modified":"2023-03-08T07:25:47","modified_gmt":"2023-03-08T07:25:47","slug":"bitcoin-hits-23000","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-hits-23000\/","title":{"rendered":"Bitcoin Hits $23,000 As Crypto Market Cap Revisits $1 Trillion Mark"},"content":{"rendered":"

Bitcoin, the king of cryptocurrencies, has been crossing multiple crucial resistances since the start of the year. According to <\/span>CoinGecko<\/span><\/a>, the coin is now up 14% in the weekly timeframe, and trading at $23,008, making BTC break through the $22,000 and $23,000 resistance levels that have limited the crypto’s ascent.\u00a0<\/span><\/p>\n

This year witnessed a complete U-turn in investor sentiment on cryptocurrencies as both Ethereum and Bitcoin reaped massive gains, along with the other top altcoins. This led to the entire crypto market to experience a resurgence in almost all aspects. <\/span><\/p>\n

At the time of writing, the current market cap of the entire cryptocurrency market is at $1.05 trillion, according to <\/span>CoinMarketCap<\/span><\/a>.\u00a0<\/span><\/p>\n

Related Reading: What Is SingularityNET And Why Is Its AGIX Token Exploding By 116%?<\/a><\/div>\n

Crypto Winter Thawing?<\/strong><\/h2>\n

Twitter has been very bullish since the coin broke through its latest line of barrier. <\/span>Analysts<\/span><\/a> say that the break on the $23k wall will validate the entry of this year\u2019s bull market, with some even targeting $100,000, or more, in the long term.\u00a0<\/span><\/p>\n

This recent price movement led to massive liquidations of short positions on Bitcoin. There are several reasons as to why this BTC broke through $23k.\u00a0<\/span><\/p>\n

\n

#Bitcoin<\/a> \/ $BTC<\/a><\/p>\n

When this finally breaks through, we’ll see a glorious god candle to $30K<\/p>\n

Just don’t think today is the day that’s going to happen<\/p>\n

be careful and don’t get too greedy yet friends pic.twitter.com\/22UMHUNBCv<\/a><\/p>\n

\u2014 K A L E O (@CryptoKaleo) January 20, 2023<\/a><\/p><\/blockquote>\n

Just this few hours ago, the NASDAQ index <\/span>jumped<\/span><\/a> almost 3% as tech stocks led the market rally. Bitcoin is heavily connected to the traditional financial space. This means if major indices like the NASDAQ continue to go up, Bitcoin will follow suit along with the entire cryptocurrencies.\u00a0<\/span><\/p>\n

With the broader financial space <\/span>eyeing<\/span><\/a> an economic soft-landing, bullishness on both the crypto and stock market will continue as the situation improves. <\/span>December\u2019s<\/span><\/a> Consumer Price Data (CPI) contributed to the optimistic mood.<\/span><\/p>\n

 \"\"Image: Crypto News<\/pre>\n
What\u2019s Next For The Alpha Coin?<\/strong><\/h2>\n
Bitcoin\u2019s price movement is expected to slow down a bit in the short term, some <\/span>analysts said,<\/span> as the next target will be $30k in the coming weeks or months.<\/span><\/p>\n
At the time of writing, the Bitcoin bulls should try and consolidate above its current support at $22,661 which will be retested by the bears in the next few days as $23,328 resisted today\u2019s bullishness.<\/span><\/p>\n
\"\"<\/p>\n
Chart: Tradingview<\/pre>\n
Investors and traders should also keep an eye on consolidation for now as market momentum might slow down. Bitcoin\u2019s halving \u2013 an event that would cut the total supply of the coin in the market \u2013 would also place upward pressure as it happens.\u00a0<\/span><\/p>\n
<\/p>\n
BTC total market cap at $442 billion on the weekend chart | Chart: TradingView.com<\/a><\/pre>\n
Related Reading: HNT Balloons As Token Gets 36% More Helium In Run-Up To Network Migration<\/a><\/div>\n
Bulls should also keep tabs of the current situation in the traditional financial space. With the coin\u2019s <\/span>high correlation<\/span><\/a> with the stock market, Bitcoin\u2019s future will be reliant on the movement of the stock market along with improving macroeconomic trends.\u00a0<\/span><\/p>\n
For now, Bitcoin holders should have enough strength to consolidate and target $24.5k and $25k resistances.\u00a0<\/span><\/p>\n
Featured image by Helvetia<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin, the king of cryptocurrencies, has been crossing multiple crucial resistances since the start of the year. According to CoinGecko, the coin is now up 14% in the weekly timeframe, and trading at $23,008, making BTC break through the $22,000 and $23,000 resistance levels that have limited the crypto’s ascent.\u00a0 This year witnessed a complete U-turn in investor sentiment on cryptocurrencies as both Ethereum and Bitcoin reaped massive gains, along with the other top altcoins. This led to the entire crypto market to experience a resurgence in almost all aspects. At the time of writing, the current market cap of the entire cryptocurrency market is at $1.05 trillion, according to CoinMarketCap.\u00a0 Related Reading: What Is SingularityNET And Why Is Its AGIX Token Exploding By 116%? Crypto Winter Thawing? Twitter has been very bullish since the coin broke through its latest line of barrier. Analysts say that the break on the $23k wall will validate the entry of this year\u2019s bull market, with some even targeting $100,000, or more, in the long term.\u00a0 This recent price movement led to massive liquidations of short positions on Bitcoin. There are several reasons as to why this BTC broke through $23k.\u00a0 #Bitcoin \/ $BTC When this finally breaks through, we’ll see a glorious god candle to $30K Just don’t think today is the day that’s going to happen be careful and don’t get too greedy yet friends pic.twitter.com\/22UMHUNBCv \u2014 K A L E O (@CryptoKaleo) January 20, 2023 Just this few hours ago, the NASDAQ index jumped almost 3% as tech stocks led the market rally. Bitcoin is heavily connected to the traditional financial space. This means if major indices like the NASDAQ continue to go up, Bitcoin will follow suit along with the entire cryptocurrencies.\u00a0 With the broader financial space eyeing an economic soft-landing, bullishness on both the crypto and stock market will continue as the situation improves. December\u2019s Consumer Price Data (CPI) contributed to the optimistic mood. Image: Crypto News What\u2019s Next For The Alpha Coin? Bitcoin\u2019s price movement is expected to slow down a bit in the short term, some analysts said, as the next target will be $30k in the coming weeks or months. At the time of writing, the Bitcoin bulls should try and consolidate above its current support at $22,661 which will be retested by the bears in the next few days as $23,328 resisted today\u2019s bullishness. Chart: Tradingview Investors and traders should also keep an eye on consolidation for now as market momentum might slow down. Bitcoin\u2019s halving \u2013 an event that would cut the total supply of the coin in the market \u2013 would also place upward pressure as it happens.\u00a0 BTC total market cap at $442 billion on the weekend chart | Chart: TradingView.com Related Reading: HNT Balloons As Token Gets 36% More Helium In Run-Up To Network Migration Bulls should also keep tabs of the current situation in the traditional financial space. With the coin\u2019s high correlation with the stock market, Bitcoin\u2019s future will be reliant on the movement of the stock market along with improving macroeconomic trends.\u00a0 For now, Bitcoin holders should have enough strength to consolidate and target $24.5k and $25k resistances.\u00a0 Featured image by Helvetia<\/p>\n","protected":false},"author":557,"featured_media":517026,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1119,14690,1558,3505],"class_list":["post-517024","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc","tag-crypto-news","tag-cryptocurrency","tag-price-analysis"],"acf":[],"yoast_head":"\nBitcoin Hits $23,000 As Crypto Market Cap Revisits $1 Trillion Mark<\/title>\n<meta name=\"description\" content=\"Bitcoin, the king of cryptocurrencies, has been crossing multiple crucial resistances since the start of the year. 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/wncen.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Hits $23,000 As Crypto Market Cap Revisits $1 Trillion Mark","url":"http:\/\/wncen.com\/news\/bitcoin-hits-23000\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-hits-23000\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/Bitcoin-17.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/Bitcoin-17.png?fit=672%2C377"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btc","crypto news","cryptocurrency","price analysis"],"dateCreated":"2023-01-21T14:40:48Z","datePublished":"2023-01-21T14:40:48Z","dateModified":"2023-03-08T07:25:47Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Hits $23,000 As Crypto Market Cap Revisits $1 Trillion Mark\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-hits-23000\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-hits-23000\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/01\\\/Bitcoin-17.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/01\\\/Bitcoin-17.png?fit=672%2C377\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btc\",\"crypto news\",\"cryptocurrency\",\"price analysis\"],\"dateCreated\":\"2023-01-21T14:40:48Z\",\"datePublished\":\"2023-01-21T14:40:48Z\",\"dateModified\":\"2023-03-08T07:25:47Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/Bitcoin-17.png?fit=672%2C377","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/517024"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=517024"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/517024\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/517026"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=517024"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=517024"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=517024"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}