August 12, 2022

Bitcoin refuses to ‘die’ as BTC price hits $40K just three days after crash

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Bitcoin (BTC) surged higher on Jan. 14, reaching $40,000 on Coinbase amid fresh evidence of new large buys on exchanges.

BTC/USD weekly price candles (Coinbase). Source: Tradingview

BTC price adds $10,000 in three days

Data from Cointelegraph Markets and TradingView tracked BTC/USD as the pair delivered even more bullish surprises during Thursday trading, adding over 17% in 24 hours.

The uptick is the latest bullish sign to come from Bitcoin price action, which just days ago focused on levels not much above $30,000.

The revisiting of $40,000 came hours after BTC/USD entered and appeared to flip a crucial resistance zone to support at around $38,000.

“That one needs to flip. If it does, we’ll be eager for new all-time highs. If not, more consolidation likely,” Cointelegraph Markets analyst Michaël van de Poppe summarized in a prior tweet.

Others were already bullish beforehand. Tyler Winklevoss, co-founder of exchange Gemini, referenced various press reports of a “crash” in Bitcoin as it slid to $30,250 earlier in the week. He told Twitter followers:

“They said #Bitcoin died on Monday, but now it’s above Title: Bitcoin refuses to ‘die’ as BTC price hits $40K just three days after crash
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Published Date: Thu, 14 Jan 2021 15:34:55 +0000