BTC Price Is Recovering as It Approaches the $25K Mark

Bitcoin Completes Three Recoveries as It Approaches the $25K Mark – March 14, 2023

On March 13, buyers kept the price above the moving average lines and the resistance at $23,000 as it approaches the $25k mark. As it advanced in the direction of the $25,000 overhead barrier today, BTC/USD climbed to a high of $24,516. The largest cryptocurrency’s price will begin to climb after it passes the $25,000 overhead resistance.

Bitcoin Price Statistics Data:•Bitcoin price now – $24,516.55•Bitcoin market cap – $473,454,854,819•Bitcoin circulating supply – 19,317,256 BTC•Bitcoin total supply – $514,697,944,221•Bitcoin Coinmarketcap ranking – # 1

Resistance Levels: $50,000, $55, 000, $60,000 Support Levels: $25,000, $20,000, $15,000

The BTC price recovered yesterday after rising above the moving average lines. The breakout has intensified the price movement. The price of Bitcoin today peaked at $24,867 before declining. In earlier market activity, the price of BTC five times retested the resistance at $25,000 but was unable to surpass the most recent high in February. While the price of BTC fluctuates below the $25,000 overhead resistance today, the bullish impulse has stalled. Although the asset’s price is in the bullish trend zone, the market has become overbought. Further upward rise of the cryptocurrency is improbable as the market moves into the overbought region. The cryptocurrency saw a large rejection at its peak of $25,227 on February 21, which led to the crash on March 10. If buyers keep the price over $25,000 and the bullish trend continues, the price of Bitcoin will rise to the next psychological price threshold of $30,000 high.

One Bitcoin Miner Manages To Produce a Valid BTC Block and Earn $150,000

Mining a valid Bitcoin block solo is so unusual that it has only happened 270 times in the last 13 years out of 700,000 blocks created. A single Bitcoin miner successfully mined the 780,112th block in the Bitcoin blockchain and was paid 6.25 Bitcoin (BTC) as the block reward. Almost $150,000 is anticipated for the payment. The occurrence itself is rare, and it can take months for a lone miner to get a valid hash, but the lone miner was also fortunate to get one after just two days of mining. In the 13-year history of Bitcoin, the unusual incident took place on March 10 and was the 270th solo mined block. The occurrence is unusual because a lone miner of this magnitude typically solves a block once every 10 months or so.

In the meantime, the price of BTC recovers as it approaches the $25k mark. The $25,000 barrier zone is where the bullish momentum is currently stalled. If buyers are unable to sustain the price of BTC above the overhead barrier, the price may fall. Now, Bitcoin is backtracking as buyers are unable to sustain the price above the recent high. The cryptocurrency asset has started moving again in a limited range between $24,000 and $25,000 in value.

Alternatives to Bitcoin

Bitcoin has recovered after its price drop on March 10. The largest cryptocurrency completed three recoveries to surpass the $25,000 above resistance. The advance has slowed as the market gets closer to being overbought. The upward tendency has been influenced by the upward trend in other cryptocurrencies and tokens. Investors are welcome to participate in the Fight Out (FGHT) programs, which are unaffected by the turbulence and instability of the crypto market. The programs are tested by investors. Take advantage of their reward programs by becoming a member of the Fight Out (FGHT) family. The services are easy to sign up for because all you have to do is connect your wallet. Put forth effort, maintain fitness, and win. You can participate in the current presale. Up until now, about $5.5 million has been raised.

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