Bitcoin Spikes to $60,000 as Ether Nears $2,000 April 2, 2021 April 2, 2021 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Bitcoin NewsApril 2, 2021 by Kelly Cromley

Bitcoin Spikes to $60,000 as Ether Nears $2,000

Bitcoin (BTC) spiked to $60,000 earlier today, following a slow rebound in the last few days. Data published by indicates underlying bullishness in the BTC/USD pair, with the latest high being $60,110 as per Bitstamp.

A price correction pushed the price to $59,000, hovering around $59,227 at the time of preparing this article. The continuous higher levels imply that Bitcoin has concretely mitigated the flash crash that happened a few days before, while moving within the same channel.

In case of popular crypto trader Crypto Ed, the price forecast was $60,000 as resistance fades way on the basis of slowing selling pressure on cryptocurrency exchanges. The wait for $70,000 will be a bit longer, as per the analyst.

On Friday, he wrote:

“I mentioned BTC target $73k and ETH $2300.”

Others are more optimistic, with short-term estimates including $68,000 and $73,000 and 2021 targets exceeding $288,000.

Another crypto enthusiast and analyst who uses Twitter handle Rekt Capital wrote as follows:

“The ~$57,500 area rejected BTC in February. But it looks like BTC turned this exact same level into support a couple of days ago.”

Crypto Ed has analyzed Ether (ETH) as the number one altcoin by market capitalization hit $2,000 level for the foremost time since February 20. After declining in parallel with Bitcoin, ETH/USD rebounded last week, recording nearly consistent higher highs on daily timeframes and attained a near record high of about $2,040.

Ether’s price targets are currently upwardly revised by several analysts with many of them pointing to $2,600 as the next stopping point. Further targets include $5,000 and even $10,000. Notably, the quantum of Ether possessed by exchanges has been declining, similar to Bitcoin.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.