Bitcoin price is back above $30,000 for the second time in 2023, with bulls hoping it not only holds this time, but leads to renewed confidence in the crypto market.<\/p>\n
Is this a sign the bear market is over and the bull run is back on? Or is this just a bear market rally that will result in new lows eventually? Let\u2019s take a closer look at the latest price action.<\/p>\n
Just a week ago, the SEC was waging a war against altcoins, and there was negative news around every turn for the crypto market. In a flash, the news cycle turned positive with a slew of Wall Street brands making their presence known in the crypto space. Names include BlackRock, Charles Schwab, Sequoia Capital, Fidelity, and others.<\/p>\n
Within days of the news making rounds, Bitcoin price is already back above $30,000 per coin, leaving bears who expected new lows bewildered and in disbelief.<\/p>\n\n
Not only is BTCUSD back above $30,000 per coin, but it is already quickly approaching $31,000. A higher high on any timeframe could send further confirmation to investors that a bottom is in for cryptocurrencies. Investors and traders who were too fearful to buy lower might finally see these levels as a safer entry.<\/p>\n
But Bitcoin isn\u2019t yet out of the woods. $31,000 is the current local high for 2023, and that level must be taken out to further confirm an uptrend. An uptrend, by definition, is a series of higher highs and higher lows. With a higher low made at precisely $25,000 \u2013 the only thing that is missing is this higher high above $31,000. Will we get it as soon as today or this week?<\/p>","protected":false},"excerpt":{"rendered":"
<\/p>\n
Bitcoin price is back above $30,000 for the second time in 2023, with bulls hoping it not only holds this time, but leads to renewed confidence in the crypto market.<\/p>\n
Is this a sign the bear market is over and the bull run is back on? Or is this just a bear market rally that will result in new lows eventually? Let\u2019s take a closer look at the latest price action.<\/p>\n
Just a week ago, the SEC was waging a war against altcoins, and there was negative news around every turn for the crypto market. In a flash, the news cycle turned positive with a slew of Wall Street brands making their presence known in the crypto space. Names include BlackRock, Charles Schwab, Sequoia Capital, Fidelity, and others.<\/p>\n
Within days of the news making rounds, Bitcoin price is already back above $30,000 per coin, leaving bears who expected new lows bewildered and in disbelief.<\/p>\n
Not only is BTCUSD back above $30,000 per coin, but it is already quickly approaching $31,000. A higher high on any timeframe could send further confirmation to investors that a bottom is in for cryptocurrencies. Investors and traders who were too fearful to buy lower might finally see these levels as a safer entry.<\/p>\n
But Bitcoin isn\u2019t yet out of the woods. $31,000 is the current local high for 2023, and that level must be taken out to further confirm an uptrend. An uptrend, by definition, is a series of higher highs and higher lows. With a higher low made at precisely $25,000 \u2013 the only thing that is missing is this higher high above $31,000. Will we get it as soon as today or this week?<\/p>\n
<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-25730","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/25730","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=25730"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/25730\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=25730"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=25730"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=25730"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}