Bitcoin News- BTC price surged up to $24,200 but decreased after that limit.
- At the time of writing, the coin was trading at $23,886.
Bitcoin (BTC) broke the $24K overhead resistance today but was not able to sustain it over the $24,200 limit. Experts predicted that if the coin crossed the $24.2K limit, then the rise would be steady and gradual. Still, some believe the crypto-leading coin is back on track.
At the start of the week, there was a theory among the crypto enthusiast, BTC will break the $24K and $25K resistance levels. That in return will develop a recovery path for the coin to reach $28,000 to $32,000. And the other possibility in talks was, that the break below the moving average line may pull it down up to $20K.
BTC Present State
At the start of the day, the BTC showed a stable increase of over $23,500 till it reached $24,200. But was not able to cross over that level, currently, the coin is trading at $23,886. The trading volume at the time of writing is $29.74 B, with the market cap over $455 B. The circulating supply as of now is 19 million BTC.
The coin managed to maintain the 100 hours moving average and as the experts say, the descending channel pattern will lead to a bullish zone. The price surge in the BTC will benefit all other tokens in the market too. And the increase will also help to neutralize the crypto winter too.
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Source: https://thenewscrypto.com/will-bitcoinbtc-price-surge-above-24k/