2024

Candle

Bitcoin

when

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<p lang="en-GB" xml:lang="en-GB">As the world’s flagship cryptocurrency <a href="https://u.today/key-reasons-why-bitcoin-btc-price-just-soared-past-57000" rel="noopener noreferrer nofollow">Bitcoin has skyrocketed</a> by over 11% within the last 24 hours, topping the $57,000 level briefly, BTC proponent and early adopter Max Keiser has tweeted that this could be the start of a “God Candle” that will propel Bitcoin to $100,000.</p>
<h2 id="bitcoin-price-skyrockets-to-57-000">Bitcoin price skyrockets to $57,000</h2>
<p lang="en-GB" xml:lang="en-GB">Over the last 24 hours, Bitcoin soared from $51,071 to the <a href="https://www.tradingview.com/symbols/BTCUSD/" rel="noopener noreferrer nofollow">peak of $57,076</a>. Bitcoin did not fix there, though, but went down a little and is exchanging hands at $56,315 at the time of this writing. The pullback from the $57,000 peak was 1.39%, with overall growth since Monday now constituting 10.24%.</p>
<blockquote>
 <p lang="en" dir="ltr">God Candle incoming: Are we witnessing the start of a $100,000 God Candle? <a href="https://t.co/j7wYUmHphq" rel="noopener noreferrer nofollow">pic.twitter.com/j7wYUmHphq</a></p>— Max Keiser (@maxkeiser) <a href="https://twitter.com/maxkeiser/status/1762296287733440754?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">February 27, 2024</a>
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<p lang="en-GB" xml:lang="en-GB">This is the closest Bitcoin has come to the first historic peak reached in 2021, when Bitcoin first surged to $61,200 in March, and in November it went up to almost $69,000, registering a new all-time high. At the moment, Bitcoin is trading at 18.25% below the historic peak. Its market capitalization value has been propelled to $1,106,160,208,247 (up 10% for the past 24 hours), and Bitcoin’s trading volume has surged to $48,980,268,570 (up 234.77%).</p>
<h2 id="microstrategy-initiates-another-btc-purchase">MicroStrategy initiates another BTC purchase</h2>
<p lang="en-GB" xml:lang="en-GB">Santiment on-chain data vendor published a report about the aforementioned sudden Bitcoin increase. The report states that once Bitcoin soared past $55,000, it already reached a 27-month high; a similar price was last seen on Dec. 3, 2021.</p>
<blockquote>
 <p lang="en" dir="ltr">📈 With assistance from <a href="https://twitter.com/hashtag/Microstrategy?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Microstrategy</a>'s latest purchase of an additional 3,000 <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a>, the market value of <a href="https://twitter.com/hashtag/crypto?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#crypto</a>'s top cap asset has jumped as high as $54.9K today, equaling its highest price since December 3, 2021. Notably, this happened on a day that the <a href="https://twitter.com/hashtag/SP500?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#SP500</a> declined… <a href="https://t.co/oMHC2m8jBk" rel="noopener noreferrer nofollow">pic.twitter.com/oMHC2m8jBk</a></p>— Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1762249127134663024?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">February 26, 2024</a>
</blockquote>
<p lang="en-GB" xml:lang="en-GB">The Santiment team is positive that the above-mentioned 10% Bitcoin price surge was stimulated by yesterday’s purchase made by MicroStrategy business intelligence giant led by Michael Saylor. The company purchased <a href="https://u.today/microstrategy-announces-major-bitcoin-btc-purchase" rel="noopener noreferrer nofollow">approximately 3,000 BTC, paying roughly $155 million</a> for that cryptocurrency lump. The purchase was conducted at the $54,900 price level. The report points out that, by a curious coincidence, the leading index of the U.S. equities market, the S&amp;P 500, showed a decline of 0.5%. This may be a sign that crypto is getting away from its reliance on the equities market.</p>
<h2 id="major-correction-expected-after-halving">Major correction expected after halving</h2>
<p lang="en-GB" xml:lang="en-GB">Prominent cryptocurrency analyst Michael van de Poppe tweeted yesterday that he expects the current Bitcoin rally to peak at $54,000-$58,000, which seems to be happening right now.</p>
<p lang="en-GB" xml:lang="en-GB">However, once the much-anticipated Bitcoin halvening takes place in April, Poppe expects to see a major correction, which will take <a href="https://u.today/major-bitcoin-correction-after-halving-predicted-by-top-analyst" rel="noopener noreferrer nofollow">Bitcoin to the $40,000</a>-$42,000 levels.</p>

Current BTC Surge Could Bring on $100,000 'God Candle': Max Keiser

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