Bitcoin

when

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-surges-past-50000-analysts-weigh-in/" data-wpel-link="internal">Bitcoin Surges Past $50,000, Analysts Weigh In</a><br></p>
<p style="text-align: justify"><strong><a href="https://en.coin-turk.com/deciphering-bitcoins-complex-price-phases-through-key-on-chain-metrics/" data-wpel-link="internal">Bitcoin</a> (BTC)</strong> is sweeping across the $50,000 threshold, with bullish trends affecting the entire market. Known Bitcoin critic Peter Schiff has characterized the recent price movements as a “pump and dump” scheme.</p> 
<h2 id="analyst-gives-positive-outlook-on-bitcoin">Analyst Gives Positive Outlook on Bitcoin</h2> 
<p style="text-align: justify">Schiff’s criticism comes at a time when Bitcoin’s volatility is at the forefront of investors’ minds. While the <strong>cryptocurrency</strong> has seen unprecedented growth over the last decade, it has also experienced dramatic price fluctuations, lending some credibility to market manipulation allegations. However, those opposing Schiff’s view argue that Bitcoin’s long-term upward trajectory paints a different picture, standing as a profitable investment despite being high-risk compared to traditional assets like gold.</p> 
<p style="text-align: justify"><strong>Bitcoin’s</strong> current trajectory, when looking at the price chart, shows that Bitcoin recently broke through the $48,000 resistance level, supporting the bullish outlook for BTC. The next significant resistance is around $52,000. If the price maintains its momentum and overcomes this hurdle, we could see the continuation of the current rally.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-314114 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/02/bitcoin-3.jpg" alt="" width="1306" height="585"></p> 
<h2 id="potential-downturn-in-bitcoin">Potential Downturn in Bitcoin</h2> 
<p style="text-align: justify">Additionally, if a downturn occurs in <strong>BTC</strong>, the support level near $44,000 could be critical. Holding at this level could indicate a healthy consolidation before another upward movement. On the contrary, slipping below this support could validate Schiff’s claims and lead to a broader selling wave.</p> 
<p style="text-align: justify">While Schiff persistently advises investors to invest in gold, which he sees as a stable store of value, <strong>Bitcoin</strong> has emerged as a modern investment outperforming gold, especially in the context of recent inflation trends. Nonetheless, Bitcoin’s journey is accompanied by higher risk and volatility, unlike gold’s more stable but less dramatic performance. As the market digests the latest <strong>ETF</strong> listings and the surrounding excitement, the real test for Bitcoin may be its performance after crossing the $50,000 mark.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/bitcoin-surges-past-50000-analysts-weigh-in/" data-wpel-link="internal">Bitcoin Surges Past $50,000, Analysts Weigh In</a></h5>

Bitcoin Surges Past $50,000, Analysts Weigh In

Table of Contents

COINTURK NEWS

Other articles published on Feb 13, 2024

Bitcoin (BTC) halving see’s diversification into Solana (SOL) & Pushd (PUSHD) presale as e-commer...

Ethereum Sees Notable Growth and Investor Interest

UniLend V2 Launched on Mainnet: First-Ever Permissionless Lending & Borrowing Protocol for All Di...

Cardano (ADA) Sees Notable Price Increase

Bitcoin ETFs Could Push BTC Price to $112K in 2024: CryptoQuant

Bitcoin (BTC) Price to $600,000: Tuur Demeester Shares Uber-Bullish Forecast

Join our free newsletter for daily crypto updates!