The cost of the first cryptocurrency has risen above $ 40 thousand again. To continue to grow, the asset needs to overcome an important mark?.
The bitcoin price could sharply adjust if it does not surpass the $ 41,000 mark, warned NewsBTC analyst Ayash Jindal. According to him, in this case, the first support will be about $ 39.6 thousand, the main one – $ 38 thousand.
According to Jindal, a resistance of about $ 40.6 thousand is forming on the cryptocurrency rate chart. Bitcoin can go into a stage of strong growth if it manages to overcome this mark and the zone of $ 41 thousand. The next important levels will be $ 41.8 thousand and $ 42 thousand and $ 45 .
#Bitcoin to stablecoin ratio oscillator.
A perfect BTFD hit rate since 2019, and it just printed another buy signal.
Brought to you by my man @ki_young_ju and his team at @cryptoquant_com. pic.twitter.com/6ymzYFplEO
— Cole Garner (@ColeGarnerXBT) June 14, 2021
Analyst Cole Garner is also considering the likelihood of further growth in quotations. He pointed to a graph of the ratio of the number of stablecoins in relation to bitcoins on crypto exchanges. Since 2019, this indicator has repeatedly indicated the beginning of a bullish trend.
The latest wave of growth in the price of bitcoin began after some positive news. In particular, the head of Tesla Elon Musk announced that the automaker will start accepting cryptocurrency for payment again after the majority of miners start using renewable energy sources.
Also, MicroStrategy announced that it could sell its own shares worth up to $ 1 billion for additional investments in cryptocurrency.