{"id":9595,"date":"2024-01-09T09:30:21","date_gmt":"2024-01-09T07:30:21","guid":{"rendered":"https:\/\/forklog.com\/en\/bitcoin-price-tests-47000-level\/"},"modified":"2024-01-09T09:30:21","modified_gmt":"2024-01-09T07:30:21","slug":"bitcoin-price-tests-47000-level","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bitcoin-price-tests-47000-level\/","title":{"rendered":"Bitcoin Price Tests $47,000 Level"},"content":{"rendered":"<p>On the evening of January 8, the leading cryptocurrency reached a new local high, with its price exceeding $47,000 for the first time since April 2022.<\/p>\n<p><!--more--><\/p>\n<p>At the time of writing, digital gold is trading around $46,800, marking a 6.49% increase over the past 24 hours.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"410\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/1-867-1024x410.png\" alt=\"1-867\" class=\"wp-image-223456\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/1-867-1024x410.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/1-867-300x120.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/1-867-768x308.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/1-867.png 1046w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Hourly BTC\/USDT chart on Binance. Data: <a href=\"https:\/\/www.tradingview.com\/x\/HKTGttNa\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>Altcoins also showed significant growth. Notably, Solana increased by 13.3% and Avalanche by 11.4%.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"627\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/2-686-1024x627.png\" alt=\"2-686\" class=\"wp-image-223457\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/2-686-1024x627.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/2-686-300x184.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/2-686-768x470.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/2-686.png 1277w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Data: <a href=\"https:\/\/www.coingecko.com\/\">CoinGecko<\/a>.<\/figcaption><\/figure>\n<p>At one point, Bitcoin&#8217;s price reached $47,248 on Binance (spot pair BTC\/USDT). Amid this, the Fear and Greed Index hit the Extreme Greed level, indicating prevalent <span data-descr=\"Fear of Missing Out\" class=\"old_tooltip\">FOMO<\/span> sentiment.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/3-403.webp\" alt=\"3-403\" class=\"wp-image-223461\"\/><figcaption class=\"wp-element-caption\">Data: <a href=\"https:\/\/alternative.me\/crypto\/fear-and-greed-index\/\">alternative.me<\/a>.<\/figcaption><\/figure>\n<p>Micha\u00ebl van de Poppe, founder of MN Trading, noted that despite a short-term correction following the rapid rise, the market is &#8220;quickly heating up&#8221; ahead of a potential approval of a spot ETF in the US.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Quick correction took place in the past 24 hours, but the markets are quickly heating up towards the potential approval of the spot <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> ETF.<\/p>\n<p>Expecting $48-51K to happen, but even more, altcoins to flourish after.<\/p>\n<p>Keep on buying the dips.<\/p>\n<p>\u2014 Micha\u00ebl van de Poppe (@CryptoMichNL) <a href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1744424843175420407?ref_src=twsrc%5Etfw\">January 8, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The expert anticipates Bitcoin entering the $48,000-51,000 range, followed by a surge in altcoins. Van de Poppe also advised buying during short-term corrections.<\/p>\n<p>Some experts remain skeptical. For instance, popular TV host Jim Cramer <a href=\"https:\/\/t.me\/forklog\/35114\" title=\"expressed confidence\">expressed confidence<\/a> that digital gold has reached its price peak.<\/p>\n<p>The most likely reason for the market&#8217;s accelerated growth is investor optimism ahead of the deadline for several ETF applications under review by the <span data-descr=\"U.S. Securities and Exchange Commission\" class=\"old_tooltip\">SEC<\/span>.\u00a0<\/p>\n<p>Previously, macro strategist Henrik Zeberg predicted a &#8220;fantastic&#8221; growth of the crypto market, during which Bitcoin&#8217;s price would reach $150,000.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On the evening of January 8, the leading cryptocurrency reached a new local high, with its price exceeding $47,000 for the first time since April 2022.<\/p>\n","protected":false},"author":1,"featured_media":9594,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[480],"class_list":["post-9595","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-price"],"aioseo_notices":[],"amp_enabled":true,"views":"38","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/9595","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=9595"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/9595\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/9594"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=9595"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=9595"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=9595"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}