Bitcoin continues its wild ride by reaching a new all-time high at $80,000, as market experts urge investors to keep their cool in this highly bullish environment.
Bitcoin at new all-time high of $80,000
This Sunday promises to be green on the market, Bitcoin, the world's first crypto has reached a new symbolic milestone on Coinbase, one of the main exchange platforms. This historic performance is part of a particularly marked upward dynamic since the re-election of Donald Trump as President of the United States.
The price of Bitcoin has since stabilized around $80,000, confirming the solidity of this previously unexplored price level.
Renowned analyst Tuur Demeester quickly reacted on the social network X, calling for restraint: “ No rash action is necessary, HODL does the work for you“.
This position is widely shared by James Check, principal analyst at Glassnode, who points out that despite these new heightsthe gap between the current price and the 200-day moving average remains “cooled,” suggesting healthy market progress.
A rally different from previous cycles
This increase differs from previous ones by its very nature, according to several sector experts. Trader Cantonese Cat notes an important feature: “ This time, the rise is not due to leveraged positions, but to real spot demand ». This analysis suggests a more solid basis for Bitcoin's current valuation.
Bitwise Invest CEO Hunter Horsley sheds some interesting light on market psychology. According to him, the price rise strengthens investors' confidence in the success of the Bitcoin project, thus creating a positive feedback loop. “This dynamic suggests a probable continuation of the upward trend“, he says.
The particularly sustained progression of recent days, with successive levels at $73,679, $76,000 then $80,000, testifies to extraordinary momentum. This series of records illustrates the robustness of the current bullish movement, which seems to be driven by solid fundamentals rather than pure speculation.
As Bitcoin continues to explore new territories, analysts agree on one point: we are potentially witnessing the beginnings of a new major bull cycle. Caution nevertheless remains in order, as price movements could experience significant volatility in the coming days.
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