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Bitcoin crosses $ 47,000 zone, Crypto Economy Approaches US $ 2,000 Billion – Market Updates Bitcoin News

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Bitcoin’s price broke above $ 47,000 on Friday afternoon. At 4:15 p.m. EDT, the price was at $ 47.929 per unit. Bitcoin has risen more than 45% in the past month and has risen by over 8% today.

Bitcoin’s value has risen 45% over the past month

The crypto economy reached $ 1.99 trillion on August 13, an increase of more than 7.4% each day. The bitcoin price (BTC) jumped over 8% and hit a new August high of $ 47,929 per unit. Seven-day statistics reveal BTCThe US dollar has risen more than 11%, and more than 45% during the month. Although slightly lower than the high of this afternoon, BTCIt is still up by 304% over the course of the year.

Bitcoin Crosses $ 47,000 Zone, Crypto Economy Approaches $ 2 Trillion
Bitcoin (BTC) on Friday August 13, 2021.

Bitcoin is the only digital asset that holds a 45% share of the $ 1.99 trillion in total. Ethereum (ETH19.4% of the crypto-economy’s dominance is controlled by ) BNB ADAMore than 3% per market. In the last 24hrs BTCIts market cap was approximately $ 894 billion Friday night (EDT).

Bitcoin Crosses $ 47,000 Zone, Crypto Economy Approaches $ 2 Trillion
Bitcoin (BTC) on Friday August 13, 2021.

Attached (USDT) captures 54% of BTCThe US dollar commands about 15.1%, while it is trading. Next are the BUSD (5.42%), JPY (4.79%), KRW (3.61%) and EUR (3.43%), respectively. Plan B is the creator of stock-to-flow (S2F), bitcoin models. RetweetedA tweet he posted on June 20th, which predicted similar price movements for June, Jul, and then the rise to August, was an old Friday tweet.

It was the exact same tweet that Bitcoin.com News reported next day, featuring the Plan B worst case forecast of $ 135,000 in December.

David Russell, vice-president of market intelligence at Tradestation Group has a less optimistic outlook that Plan B. “Bitcoin has jumped more than 50% from its July 20 low, but now the rally may see a break, ”Russell told Bitcoin.com News on Friday. Russell added:

The April 25 low of $ 47,000 was nearly matched by the most recent spike of almost $ 47,000 It is also close enough to the level below which sellers became aggressive between May 16 and 18. This is the strongest resistance zone Bitcoin has ever encountered in this current rebound.

In the meantime, like BTCAlthough the main crypto asset managed to hold the $ 47,000 grip, it is now facing strong resistance in its psychological $ 50,000 zone.

What do you think about Friday’s bitcoin price rise? Please comment below to let us know your thoughts on this topic.

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Analyst, Bitcoin, Bitcoin (BTC), Bitcoin price. BTC, BTC/USD chart, Crypto price. David Russell, Plan B. Price model, Prices, Markets, S2F. Stock-to-flow. Tradestation Group. Worst case scenario

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