Bitcoin Reclaimed $1 Trillion Market Cap
Naeem Aslam | Mar 09, 2021 03:21AM ET
Bitcoin has reclaimed $1 trillion market cap. The crypto king, Bitcoin is very much out of trouble zone now as the price has broken most of its obstacles. Recently, the price faced numerous challenges which kept the Bitcoin price below the 50K price level. Some of those challenges were the price’s inability to stay above the 50, 100 and 200-day SMA on the 4-hour time frame. But now, the price has not only crossed above those levels, but it seems like that it has left those levels behind for good. The next target for the Bitcoin price is really the all-time high, and from there onwards the journey will begin towards a new target of 70K.
In terms of sentiment, it cannot be any better as more corporate, family offices and institutions are still very much supporting Bitcoin.
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