Bitcoin () quickly returned to $48,000 during Sept. 15 as BTC/USD continued on the path to a $50,000 retest.
Bitcoin takes aim at $50,000
Data fromand tracked the largest cryptocurrency as it beat out thin resistance above $47,000 to zone in on psychologically significant higher levels.
«Right now, we are looking at a potential breakout above the range high,» Cointelegraph contributor Michaël van de Poppe said in his latest YouTube update
Van de Poppe revealed that he was uncertain about a breakout happening at this stage, but if it were to happen, a $50,000 retest would be «pretty significant.»
«That’s the final hurdle before we’re going to have an actual new all-time high, in my opinion,» he added about flipping then retesting $50,000 as support.
A look at the latest buy and sell positions on major exchange Binance confirmed the increasing resistance wall beyond the $40,000–$50,000 corridor.
Polkadot cools gains as Cardano returns
Altcoins were also in a broadly celebratory mood Wednesday, with Cardano (ADA) and Binance Coin () both seeing gains in excess of 6%.
The best performers in the top ten cryptocurrencies, the two tokens outshined the previously buoyant Polkadot (DOT), which conversely lost 4% on the day.
Largest altcoin Ether () added 3% to near $3,500.