Categories: Bitcoin

Bitcoin hits $ 50,000 for the first time in a month amid BTC price volatility

Bitcoin (BTC) hits $ 50,000 for the first time in a month on October 5th as the welcome comeback continues.

BTC / USD 1-hour candlestick chart (Bitstamp). Source: TradingView

BTC price hits 1 month high

Data from Cointelegraph Markets Pro and TradingView show BTC / USD rose another 5% on Tuesday to quickly return to psychologically important price levels.

As the recent success of Bitcoin’s “Uptober,” the bears were swept aside as resistance levels plummeted.

The largest cryptocurrency has benefited from the macro uncertainty that comes with mass social media outages affecting Facebook, Instagram, and others.

For Cointelegraph employee Michaël van de Poppe, a look at the previously proposed bullish price behavior is the more likely inference for current moves, with declines also limited to the range

“Given the historical price implications, it seems more likely that Bitcoin will break out to around $ 50,000, or perhaps even recent highs, and then drop to $ 49,000 before rising again,” he said in his latest post YouTube update.

He added that the “ideal” exit zone to retest would be around $ 47,500, but a lower number would not be in the bulls’ favor.

Altcoins are slowing down from the mark

Bitcoin now leads the big altcoins at the time of writing, these altcoins are slower to react.

Related: Bitcoin beats stocks, commodities become the most powerful investment of 2021

Only Dogecoin (DOGE) achieved larger gains in the last 24 hours, which is 10% compared to 5% from BTC thanks again openly hidden by Elon Musk.

In contrast, the largest altcoin (ETH) is 2% higher and is just over $ 3,400.

ETH / USD 1-hour candlestick chart (Bitstamp). Source: TradingView

.

.

Coincu

Recent Posts

Bybit Proof Of Reserve Shows Changes In BTC, ETH, And USDT

Bybit Proof of Reserve reveals BTC holdings at 50,412 (-8.55%), ETH at 525,641 (+8.11%), and…

42 seconds ago

Bitcoin Spot ETF Inflows Reach $449M With BlackRock Leading

Key Points: Bitcoin Spot ETF Inflows totaled $449M, led by BlackRock’s $1.45B contribution. Ethereum Spot…

50 minutes ago

Best New Meme Coins to Join for 2025: BTFD Coin Leads, Popcat Keeps It Purr-fect, and Non-Playable Coin Hits Gamers Hard

Discover the Best New Meme Coins to Join for 2025. BTFD Coin's price rollback offers…

2 hours ago

Solana memecoins crash while DTX Exchange hits 100,000 TPS on layer-1 blockchain

Discover how DTX Exchange's historic achievement of 100,000 transactions per second on a layer-1 blockchain…

3 hours ago

Strategic Bitcoin Reserve Expected to Cut 35% of US National Debt by 2049

VanEck suggests the U.S. could reduce its national debt by 35% by 2050 through a…

3 hours ago

The New Lead of Presidential Crypto Council Appointed by Trump Is Bo Hines

President-elect Donald Trump named Bo Hines as the executive director of the presidential crypto council.

3 hours ago

This website uses cookies.