Bitcoin price hits $60,000, Michael Saylor optimistic about BTC's potential

From Investing.com

July 14, 2024 10:30 AM:

Bitcoin price hits $60,000 as Michael Saylor declares, “Bitcoin is the bridge from chaos to hope.” BTC has outperformed major asset classes in 8 out of 11 years from 2013 to 2023. Amid global economic uncertainties, Bitcoin’s recovery from a recent sell-off attracts dip buyers, leading to a 5% increase to $60,272.

Investors show optimism as $737.5 million is added to Bitcoin ETFs, boosting BTC price after hitting lows of $53,602. BTC is up 3.7% in the last 24 hours, aiming to close with a gain for the third consecutive day at $60,272. Resistance levels to watch are at $61,340 and $64,620, while support is at $57,670.

Caution advised as Bitcoin trades above the 200-day SMA at $59,207. Analysts recommend waiting for a sustained close above the SMA to confirm the uptrend. With Bitcoin nearing key resistance levels, traders need to monitor price action closely for further gains in the market.

Read more at Investing.com: Michael Saylor Makes Epic Bitcoin Statement as BTC Price Hits $60,000 By U.Today