Bitcoin has resumed its bullish trend – analysts expect growth to $70,000

Yesterday, bitcoin made a breakout of an important resistance with a rise of 8% per day.FirstThe cryptocurrency hit its highest in the last two weeks at $ 55,552, being within 6% of its all-time high. Against this background, the capitalization of BTC again exceeded $ 1 trillion.

Analyst Preston Pisch points out the intersectionthe MACD indicator of the signal line from bottom to top on the daily chart, which is usually considered a signal to buy. The same situation arose in early February, before the cryptocurrency renewed all-time highs above $ 58,000.

Check out that daily MACD. #Bitcoin pic.twitter.com/ngjIJVZL2x

- Preston Pysh (@PrestonPysh) March 9, 2021

"Fate awaits"- writes the analyst filbfilb, pointing to targets around $ 70,000 and above based on the Fibonacci extension.

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Glassnode notes that bitcoinformed a major support around $ 47,000. Analysts estimate that it is the most reliable since the price climbed above $ 11,000. 1.2M BTC was moved between $ 45,500 and $ 48,900 after the market bounced off the bottom of this range. This volume corresponds to 6.5% of all BTC coins available for circulation.

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"An important question needs to be resolved: is this volume a reflection of the accumulation of assets or the flight of sellers to the exit?", - add analysts.

The balance of bitcoins in the wallets of cryptocurrency exchanges continues to decline and recently hit a new two-year low.

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At the same time, Bitcoin broke the correlation with the stock market.the market. Shares of companies such as Apple, Google and Tesla were down 4-5% on Monday. The Dow Jones ended the day with a 1% gain. Over the past months, Bitcoin has moved in tandem with technology stocks.

“Bitcoin and Ethereum are bullish again, while big money continues to bet on cryptocurrencies. Institutional interest looks confident. "- said Edward Moya, senior analyst at Oanda, in a conversation with Bloomberg.

Bitcoin continues to occupy the first line inyield in weekly reports of Goldman Sachs. The cryptocurrency was first included in them at the end of January. By the time the last report was released on March 4, bitcoin's growth since the beginning of the year was 70%, which is double the next energy sector.

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Cryptocurrency stands out even more from the backgroundindex S&amp;P 500. The sale of shares of American companies led to the fact that the index was at near-zero values ​​relative to the beginning of the year. Last on the list is gold, which is negatively impacted by rising government bond yields.

Altcoins have been growing in recent days withbitcoin. So, ether rose by 8.5%, Binance Coin - by 13%, and indicators for the space of decentralized finance in some places are up to 30%. According to the Nomics service, the trading volume in the cryptocurrency market has grown by 18% over the past 24 hours.

Where is it more profitable to buy bitcoin? TOP-5 exchanges

For a safe and convenient purchase of cryptocurrencies with a minimum commission, we have prepared a rating of the most reliable and popular cryptocurrency exchanges that support deposits and withdrawals of funds inrubles, hryvnias, dollars and euros.

The reliability of the site is primarily determinedtrading volume and number of users. By all key metrics, the largest cryptocurrency exchange in the world is Binance. Binance is also the most popular crypto exchange in Russia and the CIS, since it has the largest cash turnover and supports transfers in rubles from bank cardsVisa / MasterCardand payment systemsQIWI, Advcash, Payeer.

Especially for beginners, we have prepared a detailed guide: How to buy bitcoin on a crypto exchange for rubles?

Rating of cryptocurrency exchanges:

#	Exchange:	Website:	Rating:
1	Binance (Editor's Choice)	https://binance.com	9.7
2	Bybit	https://bybit.com	7.5
3	OKEx	https://okex.com	7.1
4	Exmo	https://exmo.me	6.9
5	Huobi	https://huobi.com	6.5

The criteria by which the rating is set in our rating of crypto-exchanges:

• Work reliability&#8212; stability of access to all functions of the platform, including uninterrupted trading, deposits and withdrawals of funds, as well as the duration of the market and daily trading volume.
• Commissions– the amount of commission for trading operations within the platform and withdrawal of assets.
• Feedback and support– we analyze user reviews and the quality of technical support.
• Convenience of the interface– we evaluate the functionality and intuitiveness of the interface, possible errors and failures when working with the exchange.
• Platform Features– availability of additional features &#8212; futures, options, staking, etc.
• final grade– the average number of points for all indicators determines the place in the ranking.

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