In a recent tweet, renowned trader John Bollinger tweeted that $ 50,000 is “Bitcoin’s first real target.” The creator of the Bollinger Bands volatility indicator believes that the bottom for the flagship cryptocurrency has already been passed.
The bottom is already here, so prices are trying to move up; the first real target is the lower part of the previous range, let’s call it from 48 to 50k …
Despite the third largest correction recorded in May, the flagship cryptocurrency is showing 42% growth in 2021.
The Bomb Effect in El Salvador, recent upbeat comments from Paul Tudor Jones, and possible MicroStrategy purchases are fueling the ongoing Bitcoin resurgence.
A recent study by Bank of America shows that bitcoin is no longer overbought, giving way to commodities.
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