Bitcoin (BTC) last hit a new ATH on April 14, 2021. It then experienced rapid declines due to price adjustments and the spread of FUD. BTC started an upward trend again on June 14, 2021, exactly 2 months later. Can BTC rise further? Let's analyze the day.
Bitcoin (BTC) had a great success by breaking the all-time record with $ 64854 on April 14, 2021. Then it pulled back a little by making price adjustments. Afterwards, it started to decline rapidly with the FUD spread by some people and countries. In fact, on June 8, BTC fell to $ 31000.
BTC managed to surpass $40000 again today, signaling that the uptrend will continue. BTC has increased by about 13% in the last 24 hours, reaching $40999. It is currently trading at $40912. If BTC can stay above $40000 for a few hours, it could even start a new bull run. In fact, the support at $35000 was also giving signals that a new bull market could start.
I think that the FUD news that has been spreading for the last 2 months has strengthened BTC more. Many FUD emitters have lost the trust of investors, but the trust of investors in BTC has been strengthened even more. In fact, in this process, we can say that BTC strengthened the immune system against those who spread FUD. This is really important, as BTC gets stronger against FUD emitters in the future, price volatility will decrease as much.
Also, Bitcoin Dominance (BTC.D) in the cryptocurrency market is increasing. Currently BTC.D is 46.07%.
As long as the uptrend continues, Bitcoin Domination may continue to rise. But later on, other cryptocurrencies will catch a similar uptrend and then the dominance will fall again.
In this process, I think Bitcoin (BTC) has become even stronger and gained more trust from investors. If this positive mood continues, I believe BTC can exceed $100,000 by the end of the year. What do you think?
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