Bitcoin price continued to rise and managed to break through the $50,000 level. This upward trend is expected to continue and potentially touch the $100,000 level this year. Bitcoin continues to show a positive trend has passed its key psychological level, at $50,000, which marks a strong dominance of investor interest. Is it really going back in Bearish, or will it be a minor correction after crossing $50,000. All of that is a confirmation priority for us, by sticking to bitcoin's strong fundamentals over the long term.
We enter into bullish zone and these dumps are the correction. Bitcoin is trading between $47K~$49K for a while. There is a heavy selling pressure, despite that $49K momentum good sign to see further move. Bitcoin market is turning into green, this weekend is going to be massive. As per market a analysis it will goes to 50k shortly.
I wouldn't call this dump though, just the normal dips during weekend as trader are cashing out for their two days rest, and taking profits. We have entered bullish zone once we goes above that lowest low for this year which is about $29k. And there's no heavy pressure to sell right now as everyone is anticipating another run to $50k-60k up to September. But it won't be an easy sailing as we will encounter this minor dips along the way.