4 Reasons Why Bitcoin Remains Bullish, What Might Bring New ATHs

Bitcoin has seen some downside action in the past 24 hours, as it was rejected north of $50,000. The first cryptocurrency by market cap trades at $49,207 with a 2.1% loss in the daily chart. Investors and experts are keeping a close eye on current levels. As pseudonyms trader CryptoDonAlt said, “this is where the market decides” if the trend will be to the up or downside. CryptoDontAlt and other traders believe this to be Bitcoin’s last major resistance. Therefore, a break and hold above $50,000 could push the price towards previous highs.   The U.S. Federal Reserve and other major central banks around the world have adopted monetary policies to mitigate the effects of the lockdowns and the Covid-19 pandemic. Investors were expecting a change in these policies for September. However, as QCP Capital said, the FED might move new decisions to December 2021. Thus, Bitcoin and risk assets have more room for a rally. On September 14, the U.S. will reveal new data on their Consumer Price Index (CPI), a metric associated with inflation. This event is usually preceded and followed by volatility and will be relevant for the market to decide its trend. In addition, Bitcoin bulls managed to defeat a strong assault from the bears accompanied by high levels of FUD news. This included attacks to crypto exchanges, the DeFi sector, and the industry as a whole with the infrastructure bills. QCP Capital believes that there will be less nega...