On Sunday, September 5, bitcoin rose by 3.69% to $51756. Weekly growth was 6.13%. Buyers have been accumulating strength for more than two days. Closer to the close of the week, buyers broke through the $51,000 level and gained a foothold above the psychologically significant level of $50,000.
There are two positive news that could trigger a breakthrough is not known. Firstly, cryptocurrencies have received official recognition in Texas after the adoption of two bills aimed at developing the cryptocurrency and blockchain industry. Texas banks have already received permission from the Banking Department to provide virtual currency storage services. Secondly, the government of India is going to classify cryptocurrencies as commodities, which will help solve many problems.
On Monday, the price of bitcoin rose to $52451
The price updated the maximum and rebounded. At the time of writing the review, bitcoin is worth $51402. The goals are in the region of $ 55 thousand, but there are no volumes. It feels like someone is pulling the market up to force retail players to enter, who were thrown out on the May fall. If this is a major player, then you need enough buyers to throw coins to the crowd. Otherwise, it will not be possible to sell cryptocurrency profitably in a thin market.
Today is a day off in Canada and the USA. In forex, the dollar is getting more expensive (corrected after a two-week drop). If bitcoin holds above $51 thousand, then we should expect today to continue moving “north” to the level of $54 thousand.