Bitcoin price started an explosive rally above the $32,000 resistance zone and even traded close to the $34,800 level. It is currently consolidating gains above US$33,200 with an increase of 10% on the day.
Likewise, most major altcoins are trading in a positive zone. ETH managed to test the $1,800 resistance zone and is consolidating gains now. XRP still faces strong selling interest near $0.55. ADA rose close to $0.28 before correcting lower. Solana cryptocurrency was trading near $31.56 up 9% today.
Bitcoin’s 52-week record has been broken
With the explosive rally above the $34,500 resistance zone. Bitcoin, one of the most valued and discussed cryptocurrencies on the market, has just broken boundaries. The recent fervor of crypto enthusiasts seems justified, as the digital currency has broken its all-time high of the last 52 weeks, positioning itself above a milestone set in July 2023. The year has been encouraging for those following Bitcoin’s footsteps, and This new feat only solidifies its presence in the economic scenario.
Let’s understand: in July this year, the cryptocurrency reached its highest price of 2023, reaching an impressive US$31,800. That month left many investors with smiles on their faces and trend studies in an uproar. Now, however, this figure has been surpassed, showing that the currency still has room to advance in the market.
For those who are not as familiar with the terms, when we talk about a “52-week high”, we are referring to the highest price a currency or asset has reached in a one-year period. It is a way of measuring the performance of an asset over the medium term. And Bitcoin, by surpassing the value established in July, demonstrates that it is not messing around.
The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.