Bitcoin’s Christmas Holidays Can Start As BTC Reaches $50,000

Bitcoin’s Christmas Holidays can start now as the coin finally reached above $50,000 after struggling for weeks to even get near this level. In today’s bitcoin latest news, we take a closer look a the price analysis.

Bitcoin’s Christmas holidays can start as the price today broke the $50,000 after struggling for weeks and now it is trading near $50,978.58 which marks a 3.4% increase in the past day and it is still 26.6% shy of its all-time high that was reached on November set at $69,044.77 but the last time that it was above $50,000 was about 11 days ago. The analysts said that December’s slump was due to the year-end profit-taking and people selling to purchase presents and that BTC will likely make a come-back in the new year. Ethereum as the second biggest crypto by market cap also made some gains of 2.5% in the past day but the asset is now trading for $4,124 after dipping below its all-time high of $4,878 over the past month.

Most of the other altcoins were bouncing back as well. Ethereum’s competitor Solana increased by 5.6% and it is now valued at $191. Solana as the network behind the fifth-biggest digital asset did quite well this year and its coin sOL is one of the best performing coins in 2021. Cardano as the eight-biggest crypto by market cap was doing even better as it increased 7.4% in the past 24 hours and it is trading for $1.45. All traders worried about the possibility of a crypto winter in 2022, are getting a little more optimistic but they should maybe wait for a little before celebrating because there’s a week left to the new year and anything can happen.

Yesterday we saw BTC retracing, The psychological and technical resistance at $50,000 proved to be too tough for BTC to overcome this level so now the cryptocurrency is retracing towards $48K but most of the altcoins are unfazed and are charting new highs. Bitcoin’s price yesterday was on a path to $50K and even reached $49,600 but was unable to continue higher so the price is rather different today. the $48K levels seem to be holding up well but it is also worth noting that the total market cap hasn’t really decreased so much. It is down by $5 billion in the past day which only shows that altcoins are making up for the difference. The rest of the market is in the green but there are some coins that failed to stand their ground.