I-Bitcoin ayibonisi Mqondiso wokuThoba iBullish, iiRekhodi ezintsha ze-YTD eziPhakamileyo

UAzeez Mustapha

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Ukuseta imizuzu eli-10 kunye neenzuzo ezinkulu. Incwadi yesikhokelo ibonelelwe ngokuthenga.

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Bitcoin (BTC) has, by some stroke of luck, avoided all three unfilled CME gaps this week and has gone on to record its highest level since July 10, 2019, at $13,261.

The main catalysts for the one-of-a-kind bull rally was the announcement made by Paypal yesterday, stating the payment solution behemoth’s plan to begin facilitating BTC and other digital currency payments.

A recent report from Datamish showed that the Paypal-induced rally precipitated a $70.8 million short squeeze on BitMEX, as a staggering $31 billion found its way back into the cryptocurrency market amid yesterday’s rally. This activity undoubtedly helped BTC rise beyond $12k and $13k levels, as bears bought back into the benchmark cryptocurrency to cover their losses.

Meanwhile, this remarkable Bitcoin performance was, once again, contradictory to what happened on Wall Street. Yesterday, the S&P 500 closed down by -0.22%, while the Nasdaq 100 (NDX) dropped by -0.11%, and the Dow Jones (DJIA) dipped by -0.04%. 

In other news, it appears that Altcoins are finally following in the footsteps of Bitcoin, following an extended period of stagnation as BTC scaled previous hurdles some days ago.

Itshathi ye-BTCUSD -4-Hour

Amanqanaba aphambili eBTC okuBukela kwiXesha elikufutshane

Bitcoin traded through today’s session in an aggressively bullish manner as it renewed its YTD high around $13,260. The next major level on the upside for BTC is the $13,500 resistance followed by the $13,800 mark (2019 high). 

However, we expect a mild retrace in the coming days to the $12,500 mark, where the crypto will likely come in contact with dip-buyers. That said, a sustained drop below the $12,500 mark could end the prevailing bull-run.

Imali iyonke yentengiso: $ 399 billion

Imali yentengiso yeBitcoin: $ 243 billion

Ulawulo lweBitcoin: 60.9%

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UAzeez Mustapha

U-Azeez Mustapha yingcali kwezorhwebo, umhlalutyi wemali, umhleli weempawu, kunye nomphathi wezezimali ngaphezulu kweminyaka elishumi yamava kwicandelo lezemali. Njengombhali webhlog kunye nombhali wezemali, unceda abatyali mali baqonde iikhonsepthi ezintsonkothileyo zemali, ukuphucula izakhono zabo zotyalo-mali, kunye nokufunda ukulawula imali yabo.

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