CEX.IO company blog | The analyst named the next levels of correction of the price of bitcoin

Bitcoin reaches new price high of $50,000 amid positive news of institutional interestinvestors and large financial companies tocryptocurrency. In addition to Tesla Elon Musk's $ 1.5 billion investment in bitcoin, business analyst MicroStrategy plans to raise another $ 600 million to buy cryptocurrency.

Yuri Mazur, Head of Data Analysis DepartmentCEX.IO Broker, specially for the ForkLog crypto portal, shared his expert opinion on what will happen to the bitcoin price and what price levels await him.

After the news about Tesla's $ 1.5 billion investment inbitcoin cryptocurrency reached an all-time high of $ 48,200. Then the asset corrected to about $ 44,000 and returned to the value of $ 48,000, continuing further wave-like growth amid moderate volatility.

Once Bitcoin reaches $50,000, its price mayroll back to the level of $48,051. There are three correction levels at $48,051, $41,539 and $31,000, as well as a technical support level of $32,967. At the same time, growth waves on the BTC/USD chart, alternating with corrective movements, indicate the stability of the uptrend.

We cannot yet name a specific figure that would serve as a benchmark for the bitcoin rate in the medium term, but we are sure that it will be well above $ 50,000.

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