Bitcoin’s rise above the US$50,000-trading price level made traders and speculators stunned. The flagship cryptocurrency’s typical September performance has been observed as usually lackluster.
We feel encouraged by this latest update about Bitcoin. We think sharing this news with our readers will also make them believe that attempting to trade Bitcoin can, indeed, be exciting and rewarding, regardless of this promising cryptocurrency’s unpredictability.
According to the report posted online by international news agency Reuters, Bitcoin’s trading price jumped above the US$50,000-region, surging 0.49 percent to US$50,188.40 yesterday, September 5. It added US$245.24 to its previous close.
Furthermore, the world’s famous and largest cryptocurrency is up 81 percent from this year’s low of US$27,734 recorded on January 4. At the time of writing, Bitcoin trades at precisely US$$51,715.42 per Coingecko.com.
Speculators and traders reportedly feel intrigued about where the crypto-asset’s trading price is headed next with this latest development. Plus, Bitcoin skeptics reportedly feel uncertain if the virtual currency’s trading price will carry on being bullish during the year’s ninth month, based on the report posted online by Bitcoin and cryptocurrency news portal Bitcoin News.
These Bitcoin stakeholders reportedly have these sentiments because Bitcoin’s trading price has historically not fared well during September. Additionally, the well-known cryptocurrency’s trading price usually gets better in October historically.
The first week of September 2021 has concluded much better in terms of gains for Bitcoin. Five months ago, the virtual asset hit US$64,654 apiece, and at this time, it is still down 29 percent from the last all-time high.
During the past seven days, Bitcoin has been doing well, being up 5.4 percent and 26.3 percent during the past month. The virtual currency has historically dipped down during September.
In the culmination of September 2019, it went down to US$8,104. Then, in September 2020, Bitcoin traded for US$10,280 per unit, and by the end of that month, the cryptocurrency was US$10,775 per piece.
From there, Bitcoin managed to breach the US$20,000-per unit all-time high and was over that trading price in December 2020. We feel enthusiastic about learning of this latest report about Bitcoin.
We observed that this September 2021, the flagship crypto-asset had broken the historical trading price trends, rising above the US$51,000-zone as this trading week commenced. We gathered that Bitcoin’s trading prices have often been low and uninspiring every ninth month of the previous years.
Nevertheless, we agree that 2021 is different. We want to point out to our readers that this happening involving Bitcoin is an auspicious one because cryptocurrency traders and investors can keep their high hopes and plans for when their investment gives them prosperous yields.
We also want to emphasize that this development merely shows that anything favorable is possible in the Bitcoin markets and cryptocurrency world.
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