Bitcoin Crosses $24,000, ETH Takes $1,600 – Trustnodes

Bitcoin has risen above $24,000 for the first time in a month, up another 5% today with it potentially headed for the $30,000 resistance.

That’s while Nasdaq sees another day of green, up 1.7% with it seemingly trying to cross the 12,000 line.

Eth has been a bit less bullish with its ratio slightly down to 0.066 BTC, but it too has crossed $1,600 with no clear resistance here now until $2,000.

Whether bitcoin has already started taking some of the eth show, is not clear, but there’s a bigger question: is the bear done?

Bear Over?

Brave of us to ask, with the only good answer being that we’ll know if bitcoin hits $80,000.

In the present however there is room to speculate that the market has been front-running autumn, when during previous bear years bitcoin finds the actual bottom.

As this is sell side, rather than buy side, pricing in or frontrunning may well be possible, with investors selling in anticipation of autumn instead of waiting on.

That’s based on two facts. The $30,000 line for bitcoin held for so long that it must be comparable to the $6,000 in 2018.

Back then, it halved again in autumn to $3,000. This time it did that halving this summer to $17,000.

Not exact and different dates, but still very much the same picture which gives ground to argue that maybe we have really seen the bottom.

There’s always room for other interpretations of course. A good bounce to rek all is very much a ritual in bear, and that can’t be discounted until the bull is too clear.

But, it may well be that we have seen the worst, with a sideways to $30,000, if it occurs, being a very strong upcoming bull signal for the months and years to come.