FOMO

Bitcoin

April

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
Bitcoin (BTC) sparked a new frenzy lately after briefly&nbsp;<a href="https://u.today/unstoppable-rally-bitcoin-btc-price-finally-surpasses-40000" rel="noopener noreferrer nofollow">surging past the $40,000</a> resistance level for the first time since April 2022, and it is the obvious highest level for 2023. With this trend, getting carried away with FOMO — Fear of Missing Out — is likely, and top market analyst Ali Martinez has&nbsp;<a href="https://twitter.com/ali_charts/status/1731601999332807036?s=20" rel="noopener noreferrer nofollow">shared</a> two key Bitcoin levels to keep an eye on.
At the time of writing, BTC is worth $41,511.85, up 5.11% in the past 24 hours, atop a 102% jump in trading volume to $32,083,399,386.
According to Martinez's chart, the next most important price Bitcoin will likely breach is $47,360. While Bitcoin's current outlook suggests retesting this price level is possible in the mid- to long term, the analysts named the $37,000 price zone as the next crucial support zone to watch.
<blockquote>
 <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> | The most important resistance area for <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a> is at $47,360, while $37,000 has now become a significant support zone! <a href="https://t.co/0OpN2ZMo9e" rel="noopener noreferrer nofollow">pic.twitter.com/0OpN2ZMo9e</a>— Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1731601999332807036?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">December 4, 2023</a>
</blockquote>
Bitcoin's growth thus far this year has been eclectic, jumping from around $16,663 at the start of the year. The more than 150% year-to-date (YTD) gain has helped it change its narrative in no small measure. Should the coin now succeed in breaching the $47,360 level as Martinez suggested, Bitcoin&nbsp;<a href="https://u.today/bitcoin-btc-at-50000-surely-next-target-but-one-thing-is-missing" rel="noopener noreferrer nofollow">might ultimately soar beyond $50,000</a>.
<h2 id="is-bitcoin-btc-at-50-000-possible">Is Bitcoin (BTC) at $50,000 possible?</h2>
With Bitcoin's all-time high pegged at $68,789.63, retesting the $50,000 resistance level and more is possible, seeing as the coin has achieved this feat before.
While mainstream institutional investor interest in Bitcoin remains high, as showcased by MicroStrategy's&nbsp;<a href="https://u.today/593-million-bitcoin-btc-purchase-announced-by-microstrategy" rel="noopener noreferrer nofollow">consistent accumulations</a>, the potential likelihood of the SEC approving a Bitcoin Spot Exchange Traded Fund (ETF) product will usher in the massive capital that the coin needs to chart an ambitious price surge.
Bitcoin, for now, has shown that while in stealth mode, it can surprise investors with its impressive price maneuvers.

Bitcoin (BTC) Bulls Should Keep Eye on This Price Level

Table of Contents

U_Today

Other articles published on Dec 4, 2023

Institutional Investors Bullish on Bitcoin as per Bybit Research

Bitcoin miner Riot Platforms gears up for halving with strategic $290M hardware investment

Web3 Communities: Top 7 Platforms Writers Must to Know

LeCun Analyzes AI Progress and Nvidia’s Hardware Dominance

Binance Margin Announces Interest Exemption for Bitcoin and Select Altcoins

XRP and Polygon price predictions, Meme Moguls raises $250,000

Join our free newsletter for daily crypto updates!