Bitcoin breaks $51k resistance, here’s why its key to the next bull run

Published by
Bitcoin breaks $51k resistance, here’s why its key to the next bull run

Bitcoin (BTC) has been hovering under the key resistance of $51K for the past week despite the market sentiments growing bullish in the holiday season and earlier today it finally managed to breach it. The top cryptocurrency is trading at $51,088 at the time of writing with a 3% increase over the past 24-hours.

Source: TradingView

After an eventful first quarter of 2021, the crypto market registered two massive market corrections of over 50% during the second quarter. However, things started to look bullish again with October as BTC and several other altcoins hit new all-time highs, but November and December turned bearish again.

BTC is now looking to gain back some bullish momentum towards the end of December mimicking the start of the bull season last year. The circumstances also seem quite similar since COVID’s new variant omicron along with growing inflation and financial stability could again make Bitcoin the go-to store of value.

Advertisement

Will Bitcoin see a supercycle or 2017 like downfall?

The last bull season saw Bitcoin rise to a new ATH near $20K in December 2017. After BTC topped the bull market in December, altcoins surged to new highs in the first quarter of 2018 and then the whole crypto market entered a four-year-long bearish phase.

A lot has changed over the past year as BTC has now become a genuine parallel financial investment market as compared to its status as a “passing fad” and “bubble” in 2017. Most of the institutions watched from the sidelines as retail carried the market for as long as they could. However, institutions have not just adopted bitcoin and other cryptocurrencies in 2021, they got their hands deep with several new government-approved crypto ETFs launching in a number of G-20 nations.

Crypto pundits have admitted that the $100,000 BTC price prediction was a little far-fetched, however, they belive fundamentals and markets have become strong enough to carry the bull run into 2022.

Advertisement

Share
Prashant Jha

An engineering graduate, Prashant focuses on UK and Indian markets. As a crypto-journalist, his interests lie in blockchain technology adoption across emerging economies.

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • News

ProShares Files for Index Crypto ETF Tracking Bitcoin, Ethereum, XRP, and Solana

Leading asset manager ProShares is seeking to establish a new crypto ETF tracking the CoinDesk…

October 22, 2025
  • News

Trump Says Meeting with China May Not Happen, Bitcoin Drops

U.S. President Donald Trump has cast doubts over his meeting with China's President Xi Jinping.…

October 21, 2025
  • News

The Great Rotation? Bitcoin Rises as Gold Sees Largest Daily Drop Since 2013

Experts have indicated that a rotation might be occurring with investors moving from gold to…

October 21, 2025
  • News

Crypto Czar David Sacks to Meet Senate Republicans In Bid To Advance Market Structure Bill

Crypto and AI Czar David Sacks is set to meet with Republican members of the…

October 21, 2025
  • News

Waller Floats ‘Payment Account’ Framework to Provide Crypto Firms Access To Fed’s Payment Rails

Federal Reserve Governor Chris Waller has floated the idea of a 'Payment account' framework that…

October 21, 2025
  • Altcoin News

Aster Outpaces Lighter in Perp DEX Rankings as Wintermute Buys the Dip After Previous Dump

Aster is regaining momentum in the perp DEX space as it outpaces Lightchain in 24-hour…

October 21, 2025