{"id":486435,"date":"2022-03-20T12:00:05","date_gmt":"2022-03-20T12:00:05","guid":{"rendered":"https:\/\/wncen.com\/?p=486435"},"modified":"2022-03-20T11:43:32","modified_gmt":"2022-03-20T11:43:32","slug":"bitcoin-breaks-past-the-40000","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-breaks-past-the-40000\/","title":{"rendered":"Bitcoin Breaks Past The $40,000 Barrier Again – Can It Sustain The Momentum?"},"content":{"rendered":"
Bitcoin (BTC) reached an all-time high of $68,788\u00a0per coin on November 10, 2021.<\/p>\n
Since then, the world’s most sought-after cryptocurrency has experienced extraordinary volatility, and the market has appeared reactive and fragile, with the Fear & Greed Index indicating a high level of doubt and uncertainty.<\/p>\n
Since January 5, the price of BTC has fluctuated between $35,000 and $45,000, a relatively narrow range considering the currency’s track record\u00a0of fluctuation.<\/p>\n
As a result, this could be the start of a long-awaited period of stabilization for the market’s top digital asset.<\/p>\n
The flagship cryptocurrency has yet to reclaim its 2022 high of $47,800, which it achieved on January 1 and 2 \u2014\u00a0approximately three weeks before plunging to $33,183.<\/p>\n
While Bitcoin has flirted with the $40,000 mark on several occasions this year, those growth spurts have yet to prove viable.<\/p>\n
However, it has rallied once more this week. According to CoinMarketCap, Bitcoin\u00a0gained approximately 6.65%\u00a0in the last seven days and was trading at $41,770 at the time of this writing, surpassing the $40,000 mark on Friday. Other coins have also increased in value during the last few days.<\/p>\n
Bitcoin’s price is edging closer to its upward limit following an almost week-long slow strut-up. As a result of\u00a0the presence of many obstacles, a pullback to stable support levels for BTC is anticipated.<\/p>\n
Bitcoin’s price is encountering numerous resistance points as it approaches the $45,000 local high. A retest of the bearish breaker zone between $42,866\u00a0and $43,754\u00a0is expected to result in a downturn to $38,887\u00a0and below.<\/p>\n
<\/p>\n
BTC total market cap at $792.68 billion on the daily chart | Source: TradingView.com<\/a><\/pre>\n