Are we on the brink of a bullish surge in the price of Bitcoin (BTC)?
This question has been at the forefront of discussions among expert crypto analysts as they assess the current momentum of the leading cryptocurrency.
Bitcoin’s price has been subject to significant fluctuations in recent times, leaving investors and enthusiasts curious about its future trajectory.
In this Bitcoin price prediction, we delve into the insights provided by crypto experts who offer their perspectives on whether a bullish surge is on the horizon for BTC.
Celebrating Bitcoin Pizza Day: The Legendary Purchase of Two Pizzas for 10,000 BTC
On May 22, 2010, Jeremy Sturdivant received 10,000 bitcoins (BTC) from Laszlo Hanyecz in exchange for two Papa John’s pizzas delivered to Hanyecz’s house.
This transaction holds significance as it marks the first known use of Bitcoin as a medium of exchange in a business transaction.
Although in 2018, 10,000 BTC had significant value, back in 2010, it was a different story.
At that time, the cost of two pizzas amounted to approximately 10,000 bitcoins. Bitcoin Pizza Day commemorates this milestone, as it played a crucial role in establishing Bitcoin’s value as a form of currency.
Without this historic event, it is possible that Bitcoin may have remained a niche digital asset without wider adoption in trade.
Today, celebrating a seemingly ordinary transaction that had a significant impact on the growth of Bitcoin is boosting BTC/USD prices. This day serves as a testament to the remarkable journey and achievements of Bitcoin throughout its existence.
Bitcoin is currently trading at $27,326, representing a 1.76% increase on Tuesday. The cryptocurrency continues to extend its daily gains and has reached its highest level in the past five days, surpassing the $27,000 mark.
This price rise is fueled by a sense of optimism prevailing in the market.
Bitcoin is experiencing an exciting bullish surge, surpassing resistance levels between $27,000 and $27,200.
This breakthrough, supported by a symmetrical triangle pattern and a bullish trend line, indicates a strong market momentum.
Bitcoin’s sights are now set on the $27,650 resistance level, with the potential for further gains up to $28,300.
Technical indicators such as the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) reinforce the bullish sentiment.
The RSI has crossed above 50, while the MACD remains above zero.
Additionally, the 50-day exponential moving average provides reliable support at $26,800, bolstering confidence in Bitcoin’s upward trend.
Keep a close watch on the $27,200 level as a breakthrough could signal Bitcoin’s continued ascent.
This article was originally published by CryptoNews.