Bitcoin Moves up 5.84%- How High Will It Go?

Bitcoin BTC/USD rose another $2,014 today, getting back to where it was on June 20^th. For about a week and a half now, Bitcoin has been under the $36,000 line, occasionally showing bullish momentum, but quickly losing it.

Investors have been watching with eagerness the past few days, though, as Bitcoin continues to rise. The BTC/USD has moved from $30,930 on Friday’s low for last week to continually improve and push toward the $40,000 resistance level. If Bitcoin manages to spike past that mark, it will be back to its June 16^th point.

Investors are hoping to see it move past the $50,000 resistance level as well, which Bitcoin dropped below near the beginning of May and has yet to recover from. In April of this year, Bitcoin had even passed $60,000, but it struggled with a downward momentum since then.

It would be interesting to follow the Bitcoin’s price movement during the next couple of weeks

Bitcoin has taken a few hits recently, with the biggest one coming from Elon Musk and his dismissal of the cryptocurrency from his company’s methods of payment. He said the digital currency was not very green but has since changed his mind after efforts from the Bitcoin developers to be more environmentally conscious. Bitcoin also suffered more recently from China’s mining ban for the digital asset.

Despite these struggles, Bitcoin has proven its resiliency and looks like it is on its way back. How far it can go before the volatile cryptocurrency trends downward again is anyone’s guess. After having recovered from these recent setbacks, the way seems mostly clear for Bitcoin to continue to prove its dominance in the cryptocurrency market.