On Thursday, December 23, the quotes of the first cryptocurrency returned to levels above the psychologically important mark of $ 50,000. Bitcoin rose by 4.63% to $ 51,375. After a prolonged depression, buyers revived, the market turned green.
The appetite for risky assets was caused by research on a new strain of coronavirus. According to the latest data, Omicron leads to hospitalization less often than Delta. The approval by the US Food and Drug Administration (FDA) of Covid-19 tablets to combat the coronavirus of Merck (NYSE:MRK) also contributed to the weakening of the dollar and the increase in stock indices. Earlier in the day, pills from Pfizer (NYSE:PFE) received approval.
The Securities and Exchange Commission (SEC) has rejected applications for applications for spot bitcoins Valkyrie and Kryptoin. The Securities and Exchange Commission was extremely hesitant to approve any investment instruments related to cryptocurrency, citing investor protection and market manipulation as two main reasons.
On Friday, December 24, bitcoin rose by $ 2,363.
At the auction in Asia, the price rose to $51,499. At the auction in Europe, the dollar index updated the weekly low. Most American and European markets are closed on Friday due to the Christmas holidays. There is nothing to focus on today. The main markets have shown in which direction to work on the weekend, now it’s up to the buyers.
Buyers broke the trend line from the top of $68990. This is a landmark event, but it is desirable to pass the $51,950 level (~61.2% of the fall from 51176 to 42000 and ~38.2% of the fall from 68990 to 41623). The market remains unstable, as the price is in the upper part of the range of $45500-51954, which has been formed since December 4, when the price collapsed to $41623 per bitcoin.
If we build an ascending channel using three values 41623-45600-51954, then we get a target of $57044 along the upper border of the channel. But first you need to beat the maximum of $51954 for bitcoin from December 7 and 61.8% – $51950.