Bitcoin aiming high

Can bitcoin surge above $50,000 amid a flurry of positive news?

Bitcoin is pushing higher again today, eyeing more record highs as it inches ever closer to $50,000.

There is clearly some nervousness around this level. We’ve all seen what corrections look like in cryptos and perhaps some are getting anxious about the possibility of one here given the psychological significance of it.

Of course, the flip side of this is that a move above could see it explode higher and the push comes amid a flurry of good news stories for bitcoin.

Tesla’s investment seems a lifetime ago already and Mastercard and BNY Mellon joined the party this week. Who’s next and what will tip it over the edge and trigger the next surge? It’s quickly become the dominant news story which has also never been a bad thing for the space, given its desperation for acceptance.

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Craig Erlam

Craig Erlam

Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam