Bitcoin soars to 10-day high; Will BTC hit $50k by end of 2023?
As optimism returns to the cryptocurrency market, the price of its representative asset, Bitcoin (BTC), has briefly crossed the threshold at $44,000 and reached its 10-day high thanks to the anticipation of approval of the first Bitcoin exchange-traded fund (ETF) and an increase in whale wallets. Indeed, 22 crypto wallets with more than 100 BTC in their possession have returned to the network after a two-week decline, leading the flagship decentralized finance (DeFi) asset to hit $44,200, according to the data shared by the crypto market intelligence platform Santiment on December 20. On top of that, the platform’s team observed that Bitcoin’s daily relative strength index (RSI) had declined below 45 for the first time since October 15, “precisely when bull rally first began,” arguing that the maiden cryptocurrency could continue toward $45,000 “if these two signals remain favorable.” Bitcoin price and wallets. Source: Santiment Bitcoin price analysis At press time, the largest...