- Bitcoin surpasses $ 16,000 for the first time since 2018.
- The rest of the cryptocurrency market is expected to follow in the footsteps of Bitcoin, extending the bull cycle.
Bitcoin has passed the critical $ 16,000 after the first attempt failed to make significant progress on Wednesday. The flagship cryptocurrency continues its strong bullish momentum, with price action rising above $ 16,100. The Relative Strength Index also supports the breakout after bouncing off the support at the midline.
The rally is expected to continue, especially with Bitcoin making a final leg to its all-time high. Meanwhile, buyers need to keep the price above $ 16,000 to have enough time to plan for the next attack towards the coveted $ 20,000 level.
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Credits: Forex Street
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