Bitcoin has not only hit record highs as billions of institutional dollars have fled gold. This suggests that bears are aggressively defending the all-time high at £44,238. The world’s most popular cryptocurrency is surging in value, making investors rich overnight – but there’s something you need to know. It touched an all-time peak of $19,864.15, breaking its prior record set in 2017. If the Bitcoin price GBP pair rebounds off this support, then a few days of range-bound action is possible. The bulls are currently attempting to defend the £31,005 support. They are likely to mount stiff resistance at £41,795. It has already stayed above £10,000 in four of the last five days. Price in BTC: 0.027 BTC. The upsloping moving averages suggest advantage to the bulls but the negative divergence on the RSI signals caution. Above this level, a move to £9,000 and then to £9,300 is possible. On the other hand, everything being equal, a hike in the interest rates only strengthens the Pound or GBP. Bitcoin price GBP has been sustaining above the £30,936 breakout level for the past few days, but the momentum has not picked up. A strong bounce off this support will be a positive sign as the bulls will attempt to resume the uptrend by pushing the price above £9,571.93. Bitcoin Halving 2020. That led to a sharp fall below the 20-day EMA on January 21 and Bitcoin dropped to the 50-day SMA on January 22. Bitcoin price GBP went as high as £11,788 but it soon dropped approximately £200, touching £115,60 before closing. However, it is unlikely to be a straight dash to the target objective because, the bears will mount a stiff resistance at £9,000, £10,000, and again at £11,000 (marked via ellipses on the chart). ... has dropped more than a third from its February peak. Bitcoin broke above the £14,700 overhead resistance on December 16 and surged to a new all-time high. On this date, Bitcoin reached a new all time high above $20k, bypassing 2017's record price. Therefore, traders should avoid buying below this support until a new buy setup forms. The deeper the decline, the longer it will take for the BTC/GBP pair to stage a recovery and challenge the all-time high. The bears are likely to defend this resistance aggressively, which may result in a short-term correction. However, a break below the 20-day EMA will signal that the momentum has weakened, which could result in a drop to £8,217. Nonetheless, if the bears drag the Bitcoin price GBP below £14,000, the pair may remain range-bound for a few days. The rebound off £10,983.87 again carried the price to £12,048 on November 9. Smaller digital coins soar as bitcoin powers on towards record high Digital currencies Ethereum and XRP soared on Monday, gaining momentum as the bitcoin price GBP powered on towards a possible all-time high. Analysts say this correction will be short-lived. Bitcoin price gbp broke above the overhead resistance of £44,238 on April 12 and 13, but the bulls have not been able to sustain the breakout. Repeated failure of the bears to sustain the price below £12,792.47 may have resulted in short-covering by the aggressive bears. Pound Sterling. This setup has a pattern target at £34,472. Bitcoin has dropped to its lowest 180-day volatility, a record 23-month low and a 43% drop in the last thirty days. There are no reliable trade setups at current levels. PEAKDEFI ranks no - in the market capitalization of PEAKDEFI is at £ and its volume for 24 hours is . They can’t stop you buying Bitcoin or other cryptocurrencies, but they can ban almost anything based on its price being sold to people in the UK by firms operating here. Former Goldman Sachs Hedge Fund Chief Has Predicted Bitcoin Will Surge To $1 Million. If they succeed, the BTC/GBP pair could start its journey towards the all-time high at £41,795. CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE BITCOIN PRICE CHART GBP A Bitcoin price GBP breakout of the all-time high will signal the resumption of the uptrend, with the next target objective at £50,000. If that happens, the btc price gbp could drop to the 50-day SMA. for 30 days is $0.76001307 USD / $0.34887194 USD and Blockchain/Bitcoin and Twitter CEO Announcement Rally The Bulls  Jack Dorsey Twitter CEO who is known for his bullish sentiment on cryptocurrency and Bitcoin has recently stated in Oslo Freedom Forum that Bitcoin and blockchain technology are the future of twitter and he believes that Bitcoin has the potential to be the sole world’s currency by 2030. MicroStrategy became the first publicly-traded company to acquire a large chunk of bitcoin to hold on its balance sheet as a primary treasury reserve asset. He compares the recent uptick to the surge we saw in 2017 before it plummeted again in early 2019, Bitcoin Price GBP News – 1st decemeber 2020. The BTC/GBP pair attempted to break above the all-time high on February 6 but failed. If the Bitcoin price GBP breaks the 50-day SMA, it will signal a possible trend reversal. Have a fantastic day! Price chart, trade volume, market cap, and more. Though we were not certain of this move, as the trend was bullish, we had proposed traders to keep partial long positions open purchased at much lower levels. This is an important support because the bears have not been able to break it since October 9 of last year. Such a move could catch the bears off guard and may result in short-covering that could push the Bitcoin Price GBP back to the high at £30,936. https://www.youtube.com/watch?v=Fyim7YRPTwI. The Bitcoin broke out of a bullish inverse head and shoulders pattern on July 27. https://youtu.be/O3HJNc4QC4M. Although the headline is a former Goldman Sachs hedge fund chief predicts a very high Bitcoin Price it’s clear we are a long way from this currently. Australian market analyst Kyle Rodda said Bitcoin’s latest surge is “knocking over record high after record high right now” but he brings the price surge down to “a high degree of mania”. It’s an extraordinary thing,” he said. Have a fantastic day! The bulls will now try to push the price above £36,759.61. As this was the first dip, traders purchased it aggressively, resulting in a strong rebound. Bitcoin price GBP went as high as £11,788 but it soon dropped approximately £200, touching £115,60 before closing. The failure of the bears to defend the previous high at £15,599 shows aggressive buying by the bulls. We do not find any strong conviction trades at the current levels. On the other hand, if the bulls can arrest the next decline above £8,000, it could offer a buying opportunity for the positional trader who can keep the stop-loss at £7,450. Plus500. Hopefully, you have enjoyed today’s article. Discover new cryptocurrencies to add to your portfolio. This suggests that traders are buying at every higher level due to FOMO. A breakout of this resistance could start the next leg of the up-move towards £50,000. Last Update : 2021-05-19 09:00:01. During the last calendar year Bitcoin Gold price was volatile and had both periods of growth and decline. For instance, mainstream exchanges that launched Bitcoin futures in 2017 were mainly responsible for driving the bubble or bull run that pushed Bitcoin’s price higher to nearly $20,000 from 1000 dollars earlier during the same year.