27. February 2024

• Bitcoin is showing renewed energy, trading at $20,883.
• Analysts say a break through the $21k price resistance could start a new bull market.
• The current candle is the same size as the one that confirmed the bull market back in 2019, sparking bullish speculation.

Bitcoin is showing signs of a potential bull market as it continues to rise in value. The top cryptocurrency is currently trading at $20,883, leading the crypto market to rally as optimistic investors enter the market. This renewed energy could be due to the Consumer Price Index (CPI) data showing an improving economic trend. If Bitcoin breaks through the $21,000 price resistance, analysts say the start of the bull market is at hand.

On Twitter, the crypto community is completely bullish on their bull market hypothesis. Rekt Capital, a crypto analyst on Twitter, recently noted that the current candle is the same size as the one that confirmed the bull market back in 2019. This has sparked speculation that the next bull market is only days away. During the collapse of FTX, Bitcoin lost 27% of its value, and so did most crypto in the market. With the coin nearly breaking through the $21,000 price resistance, a large number of short positions on BTC have been liquidated.

The market is closely watching Bitcoin, as the success or failure of this resistance could determine the future of the market. If Bitcoin breaks through the $21,000 price resistance, it could kickstart a new bull run as investors flock to the cryptocurrency. If the resistance holds strong, it could mean that the bear market is here to stay. While past performance doesn’t necessarily predict future outcomes, the crypto community is watching this closely and hoping that the bull market is just around the corner.