{"id":22007,"date":"2022-03-28T08:06:00","date_gmt":"2022-03-28T07:06:00","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=22007"},"modified":"2022-03-28T08:06:10","modified_gmt":"2022-03-28T07:06:10","slug":"bitcoin-btc-make-for-a-major-breakout-to-47000-is-its-200-dma-coming-soon","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/bitcoin-btc-make-for-a-major-breakout-to-47000-is-its-200-dma-coming-soon\/","title":{"rendered":"Bitcoin (BTC) Make For a Major Breakout to $47,000; Is Its 200 DMA Coming Soon?"},"content":{"rendered":"\n
The world's largest cryptocurrency surged another 5% on Sunday eve moving beyond $47,000 for the first time in three months. BTC<\/a> is currently trading 4.93 percent higher at $47,943 with an $891 billion market value as of press time.<\/h5>\n\n\n\n
\"Bitcoin
Bitcoin Makes Major Breakout<\/figcaption><\/figure><\/div>\n\n\n\n

Bitcoin has made a major break above the $45,925 resistance level with its most recent move. Bitcoin is now advancing towards its 200-day moving average (DMA) of $48,278 as shown by the candle formation in the chart below.<\/p>\n\n\n\n

As on-chain data provider Santiment explains\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, Bitcoin has recovered to heights above $47K for the first time in 11 weeks. after January 4.\u00a0 Bitcoin has been through a difficult trip of inflation, conflict, and COVID-19 worries in the last three months, but has managed to overcome all of them. as of now,\u00a0 Bitcoin's average trading returns are at their highest in six weeks.<\/p>\n\n\n\n

\"Bitcoin
Santiment Report on Bitcoin Surge<\/figcaption><\/figure><\/div>\n\n\n\n

Furthermore, according to Glassnode data, a whopping 81 percent of Bitcoin issuance is currently profitable.<\/p>\n\n\n\n

\"Bitcoin<\/a>
Glassnode Report on Bitcoin Surge<\/figcaption><\/figure><\/div>\n\n\n\n

Altcoin Market show\u00a0Strong\u00a0Growth<\/strong><\/h3>\n\n\n\n

The recent Bitcoin price increase coincides with a 4 percent increase in the broader crypto market. Alongside Bitcoin,\u00a0 Ethereum<\/a>\u00a0is also up 4.67 percent and is currently trading above the $3,300 level. It has been exhibiting signs of moving in tandem\u00a0with Bitcoin.<\/p>\n\n\n\n

On the weekly chart, both BTC and ETH are currently up more than 15%. The whale holdings of Ethereum have been increasing. Additionally, according to Bloomberg's discounted cash flow model, analysts anticipate the price of ETH will rise to $8,000 this year in 2022.<\/p>\n\n\n\n

Other altcoins have also\u00a0been making a strong\u00a0rise. Cardano (ADA) has been the top\u00a0performer\u00a0on the weekly chart, gaining 35 percent. As of the time of writing, ADA has a market cap of $39.5 billion and is now trading at $1.17.<\/p>\n\n\n\n

Terra's LUNA<\/a>, on the other hand, is up 3.5 percent and is currently\u00a0trading at $94 with a market cap of $33.4 billion.<\/p>\n","protected":false},"excerpt":{"rendered":"

The world’s largest cryptocurrency surged another 5% on Sunday eve moving beyond $47,000 for the first time in three months. BTC is currently trading 4.93 percent higher at $47,943 with an $891 billion market value as of press time. Bitcoin has made a major break above the $45,925 resistance level with its most recent move. […]<\/p>\n","protected":false},"author":32,"featured_media":22010,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83,21],"tags":[152,132],"class_list":["post-22007","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","category-news","tag-bitcoin","tag-crypto"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/03\/bitcoin-major-breakout.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/22007","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/32"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=22007"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/22007\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/22010"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=22007"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=22007"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=22007"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}