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- Bitcoin dedicated firm NYDIG has partnered with fintech giant Fidelity National Information Services to enable US banks to offer BTC
- After resting for a while, BTC is again back on track in a flash
- According to many price indicators of Bitcoin, it is expected that the price of the asset will move upwards, and the rally will continue
Bitcoin was resting back in recent days when altcoins were outshining. According to the data from CoinMarketCap, it is observed that the flagship cryptocurrency is back on track. On Tuesday, the price of BTC retraced to $53k from its price level of $58k. However, on Wednesday, after seeing a day of losses BTC turned around in a flash. Observing the price trends, it seems that the move of the token is the second such comeback over the last seven days. Moreover, now a greater adoption for the currency has been lined up. And soon 100s of US banks will be accepting Bitcoins deposits.
Will Bitcoin be able to continue its bullish rally?
Following the bearish trends in the Bitcoin market, many analysts were observed being eager to see the asset’s next move. Observing how much fuel the coin has accumulated after the dip, Philip Swift, the co-founder of Decentrader, expects BTC will continue its bull run.
Swift explained that he continued to expect that the coin designed by Satoshi Nakamoto will not crash. Moreover, the environment seems BTC will likely range before breaking out to the upside.
Price indicators showing positive signals
According to Swift, many other price indicators have also signaled that Bitcoin’s price rally is not over. And the price trend is expected to surge more in future. Notably, the Pi Cycle Top Indicator, had discovered the top all-time high of the world’s famous crypto asset when the coin achieved the record high last month at the level of $64,500. Hence, it is not the stop of the bullish run.
Hodlers are the reason behind uptrends
When Bitcoin was sitting back, the altcoin market was showing tremendous performance. Among other altcoins, it is observed that Dogecoin and Ethereum Classic were the most astonishing movers. Following the fickle nature of such parabolic altcoin moves, BTC proponents warned the traders. Hence, the factor attracted the attention of hodlers towards the crypto asset designed by Satoshi Nakamoto.
Meanwhile, CNBC reported that NYDIG partnered with fintech giant Fidelity National Information Services to enable US banks to offer BTC. Moreover, it was known that already 100s of banks from the United States have enrolled in the program. Hence, soon the banks will adopt more Bitcoins.
