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The price of Bitcoin (CCC:BTC-USD) has once again jumped above $50,000 today and crypto traders are heading online to discuss what this means for BTC.
Bitcoin has been on a wild ride this year that has had crypto traders gripping the edge of their seats. At its best, BTC was trading for about $63,000 per token back in April. However, a major downturn happened that saw it fall to roughly $30,000 per token back in July.
BTC has been recovering ever since but hasn’t yet climbed back to the $60,000 price range. Instead, crypto traders have been tracking the price of Bitcoin as it has been hovering around $50,000 for just over a week.
Keeping all of this in mind, let’s take a look at what crypto traders are saying about the price of Bitcoin today on social media.
You guys know this confirms $BTC new all time highs 2021, right?
— The Crypto Dog📈 (@TheCryptoDog) September 2, 2021
I've been pretty skeptical of a bull market continuation and been sharing my bearvidence the last few weeks, but man, if $BTC uses this consolidation as a flag above $50k, I'm forced to change my default stance from dead cat bounce to full on double bubble pic.twitter.com/H1NuVgHt0X
Gallery: 8 Cryptocurrencies to Buy for the Bitcoin Comeback (InvestorPlace)
$BTC is about to invalidate the short-term bearish scenario
— il Capo Of $NOIA (@CryptoCapo_) September 2, 2021
Welcome back to $50,000 #BTC $BTC #Crypto #Bitcoin
— Rekt Capital (@rektcapital) September 2, 2021
My base case scenario is the continuation of the bull market until December 2021. Possible $btc target: $90k-$120k, $eth : $9k-$11k.#bitcoin mcap at $120k would be ~2.28T, that's ~20% of the mcap of gold. I don't think we can go higher in the current regulatory environment.
— TulipBaron (@BitcoinBarons) September 2, 2021
BTC was up 4.8% over a 24-hour period as of Thursday morning and is up 68.7% since the start of the year.
Of course, there’s plenty of other crypto news that traders are going to want to know about today.
Luckily for them, InvestorPlace has it covered with our daily deep dives into the space as we tackle the hottest cryptos for Thursday. A few crypto stories to consider checking out today include Cardano (CCC:ADA-USD) price predictions to consider, an updated look at Stellar Lumens (CCC:XLM-USD), as well as price predictions for Ethereum (CCC:ETH-USD). You can get all the info on these subjects by checking out the following links!
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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