What will happen to Bitcoin this week? Bitxmi experts opinion

The main cryptocurrency managed to gain a foothold above $ 48 thousand over the past weekend. Bitxmi experts named factors that indicate the continued growth of Bitcoin in the upcoming days

This week, Bitcoin managed to grow by 7% and gain a foothold at $ 48 thousand. The capitalization of the main cryptocurrency increased to $ 905 billion, according to CoinGecko. Bitxmi experts predicted whether Bitcoin will continue to rise next week.

The situation is positive

There is a positive situation in the market due to fundamental factors that instill confidence in investors. According to experts, Bitcoin may rise in price up to $ 50 thousand next week.

“According to the most optimistic forecasts, bitcoin will be able to gain a foothold above $ 50 thousand by the end of next week. Before the start of growth, an impulse of at least $ 42 thousand is possible,” – analysts are confident.

As the fundamental factors that support the rate of the main cryptocurrency in an upward trend, another purchase of bitcoins by MicroStrategy, the launch of digital asset trading by the popular American broker Interactive Brokers, the opening of access to cryptoassets to PayPal clients from the UK, as well as the accumulation of a large number of bitcoins by “whales”.

On September 13, MicroStrategy increased its bitcoin investment. The software developer purchased 5,050 bitcoins worth $ 242.9 million at an average price of $ 48,000 per digital coin. As of September 12, the company owns 114 thousand bitcoins, on the purchase of which $ 3.16 billion was spent. The average cost of one bitcoin is $ 27.7 thousand.

On September 14, US broker Interactive Brokers opened cryptocurrency trading to US clients. The broker has entered into a partnership agreement with Paxos, which will provide work with digital assets. Interactive Broker`s customers can buy, sell and store Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.

On September 17, payment company PayPal announced the admission of its UK clients to trade and store cryptocurrency. UK residents can use the PayPal mobile app to work with Bitcoin, Bitcoin Cash, Ethereum, and Litecoin. This is the first expansion of a payment company’s cryptocurrency service. Until this point, the payment company only provided access to digital assets to its US customers.

Large bitcoin holders (from 10 to 10 thousand digital coins) in the period from 13 to 16 September accumulated 60 thousand bitcoins (more than $ 2.8 billion at the current exchange rate on September 19).

Going to $ 50k

Last week, it was possible to observe how Bitcoin pushed off the support area at $ 47K and broke through the downward resistance line. Judging by the short timeframes, the bitcoin rate will rise in the short term.

“The price of bitcoin is moving towards the most likely top in the $ 50,700 area. The next target is $ 58,000.”

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Disclaimer: Bitxmi News is a news portal and does not provide any financial advice. Bitxmi's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Bitxmi News won't be responsible for any loss of funds.