June 5, 2024
Bitcoin price today

Bitcoin Price Today Surges Beyond $67,000 Amid Renewed Investor Optimism

Saturday, May 18, 2024: As of 8:00 a.m., Bitcoin’s price stands at $67,221.23, reflecting a 1.16% increase over the past 24 hours. This recent surge adds to the cryptocurrency’s impressive year-to-date gain of 58.53%.

Bitcoin (BTC) has rebounded strongly after flirting with the $60,000 threshold in recent weeks. This resurgence has likely inspired renewed confidence among investors, including MicroStrategy’s founder, Michael Saylor. A long-time Bitcoin advocate, Saylor recently took to social media to reaffirm his bullish outlook on the digital asset.

In a post on the X, Michael Saylor shared an image of two black dice featuring illuminated Bitcoin logos, captioned with “Bet on Bitcoin.”

The current Bitcoin price has approached a crucial resistance level around $67,500, known as the golden ratio. Over the past four days, Bitcoin’s price has surged by more than 10%, forming a bullish pattern. This rise is attributed to the formation of an inverse head-and-shoulders pattern, which Bitcoin has successfully broken out from, signaling further bullish momentum.

Image Source: TradingView

Bitcoin’s dominance in the cryptocurrency market is also on the rise. A continued bullish breakout could enhance Bitcoin’s dominance even further, solidifying its leading position in the crypto market. This trend indicates a growing preference for Bitcoin over other cryptocurrencies among investors, which could drive further price increases in the coming days.

Disclosure Statement: Miami Crypto does not take any external funding, or support to bring crypto news to the readers. We do not have any conflicts of interest while writing news stories on Miami Crypto.

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