The Long and Short of Bitcoin (BTC) This Week – Investing.com India

The Long and Short of Bitcoin (BTC) This Week – Investing.com India

Bitcoin entered the weekend on a bullish note, going above $60,150, just shy of reaching its all-time high of about $61,700.But over the weekend, the prices end up going lower to $56,500 as $515 million Bitcoin longs got liquidated on Sunday. Overall, more than $1 billion was liquidated on the day, and the funding rate neutralized with the highest at 0.1219% on Bybit.Now, Bitcoin has started this new week on a red note. As of writing, is trading around $57,500.While April has started at -2.26% performance, the leading cryptocurrency ended the quarter first as the best one in eight years. Historically, April and quarter second both call for good things ahead.“Bitcoin's price has a lot of room to go,” says trader and economist Alex Kruger.Miners are also busy accumulating all the BTC that they have been mining after selling a bunch at the beginning of the year.Becoming Digital Gold

Bitcoin has a long way ahead with many more ATHs to hit; however, trader Alex Kruger points out how the digital gold's run has been “behind in percentage terms.” And as its market penetration saturates, which will eventually, “price growth will then only grow in nominal terms, i.e., will fail to