Bitcoin Price an Inch Close to Hit $50k While Wall Street Sleeps!

Bitcoin Price historical bull rally

Bitcoin price rally setting new milestone every new day, since Tesla’s balance sheet showcased more than a billion investment in bitcoin. Despite repeated rejections at $49,000, the asset managed to breach the upper resistance and trading comfortably close to $50,000.

The BTC price is halfway mark to attain the milestone of 6-digits which is expected to happen anytime. According to one of the popular analysts, Lark Davis, Bitcoin will be 6 digits in 2021, which is imminent.

He also predicted the Ethereum price will be a 5-digit very soon, and no factor can stop the rally from reaching the heights. However, the prime focus currently would be whether the crypto space will uphold the price above $50K or else dump the price by extracting the profits?

A minor Correction may be Incoming!

Bitcoin price is currently trading surrounding the levels at ATH. It rallied very close to $50K just touched the milestone and suddenly trembled down. However, the bullish momentum appears to be intact as the price despite correction is heading strongly towards $50K.

As it happens with any crypto-asset, a minor dump or retracement may be expected as the BTC price smashes the levels yet again. According to an analyst InvestPro_India, the price is expected to revisit $47K odd levels as it smashes ATH above $50K.

As per the chart put up by the analyst, the retracement to $47K is expected to be short-lived as the bull rally may head towards $50K yet again.

Collectively, the Bitcoin price rally appears to be in a significant phase where the bearish divergence may become a barrier. Yet the bitcoiners and the whales need to push the price above the milestone of $50K.

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