Since surpassing the $5,000 mark last week to set a new all-time high, investors have been watching the charts with anticipation to see whether the bitcoin price would hold above this historic level or contract to a lower threshold. Thus far, bitcoin has managed to avoid a pullback. Despite dipping below $5,500 on several occasions, the bitcoin price has consistently recovered to the $5,600 mark. On Tuesday, the bitcoin price extended this recovery a bit further, climbing above $5,700. At present, the bitcoin price is trading at a global average of $5,733, which translates into a $95.3 billion market cap.
Several analysts predict bitcoin could rise into the $6,000 to $7,500 range by the end of the year, but its short-term trajectory will be heavily dependent on the outcome of the contentious