Bitcoin price surged past $27,000 per coin earlier today, exceeding even $27.2k at the time of writing.
Bitcoin has been trading high in the past week, with its most significant move made on September 12, when it jumped from $25.2 to the resistance at $26.4k. However, this was a considerable resistance that BTC had been trying to breach for several days Between September 12 and September 14.
September 14 finally brought a surge that allowed the coin to climb up and beyond this level, but it soon encountered a new resistance at $26,800 — a level that prevented BTC from going further up for the entire weekend. In fact, over the weekend, Bitcoin was relatively flat, trading sideways for days between $26.4k and $26.8k.
The coin started making moves again with the arrival of Monday, September 18, when its price suddenly started moving. Fortunately, this time, it started moving up, breaking the resistance at $26.8k earlier today, skyrocketing past $27,000, and reaching its current level at $ 27,260.
In the past week, BTC saw a price increase of over 6%, with its price increasing by 2.6% in the last 24 hours alone. The coin’s daily volume surged by 67% during the previous 24 hours, leaving it at $10.8 billion.
Analysts are already debating the coin’s next move, with some suggesting that the coin formed an ascending channel. As a result, it may move to the MPL level, currently believed to be at around $27.6k. Once this happens, experts say that this will be a good place for short positions.
This will be a critical barrier for the coin, and some analysts have suggested that Bitcoin could rally to $42,000 per coin if it manages to push through this area.
If it fails, analysts say a massive rejection is possible, potentially down to $20,000.
Bitcoin Surges as Micro Investors Reach ATH
One of the reasons why Bitcoin is growing, according to recent data analysis, is the fact that micro investors have climbed to an all-time high. The data shows that the number of addresses holding 0.01 BTC or even less has exceeded 37 million.
Smallholders continue to grow and take up a significant market share despite the continued dominance of a much smaller group of large holders, who still can manipulate the market.
Bitcoin Can Solve Major Banking Problem, says Jordan Peterson
Jordan Peterson, the best-selling author and clinical psychologist known for discussing various social topics, recently spoke about Bitcoin, suggesting that people abandon the banking system and adopt BTC.
Peterson suggested in response to a recent report that claims that the Macquarie Bank, Australia’s fifth-largest bank, intends to transition to a digital-only banking system by November 2024.
The bank will start phasing out cheque cash and even phone payments as its system evolves. “Maybe it’s time to scrap banks. Could Bitcoin fix this?” Peterson wrote on X.
Maybe it’s time to scrap
Bitcoin fix this? https://t.co/j6wldXMv7P
— Dr Jordan B Peterson (@jordanbpeterson) September 14, 2023
Animoca Brands to Launch a Bitcoin-Based Token
The last big news that may have contributed to Bitcoin’s growth comes from Animoca Brands, a significant player in the crypto gaming and metaverse investment space.
The company revealed plans to use a subsidiary called Darewise Entertainment, also known as Life Beyond Studios, to create a new innovative metaverse ecosystem on the Bitcoin network.
The company would use the Ordinals protocol to pull this off, but even so, it would significantly expand Bitcoin’s role in the digital realm.
Bitcoin BSC Blows Up on Binance Smart Chain
While Bitcoin is growing in value and good news lately, the new token carrying its name also saw massive growth in popularity recently.
Bitcoin BSC (BTCBSC) is a BEP-20 token currently in its presale. The token intends to offer a version of Bitcoin on BSC, but not the Bitcoin that everyone knows today. Instead, it wants to provide the coin the way it was back in 2011 when its value was only $1.
The project sells BTCBSC for $0.99 and has already raised $2.8 million in ten days. It is now two-thirds of the way to its soft cap of $3.96 million raised, and once it hits this figure, the presale will be officially over.
To join the presale and buy BTCBSC, users must connect their wallet and use either BNB, ETH, or USDT.
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