BTC\/USD – Daily Chart<\/figcaption><\/figure>\r\nBitcoin price has continued to show bullishness despite the resistance at $60,000 price level. After the rejection on March 18, the BTC price moves up to retest the resistance zone. Since March 17, Bitcoin has been consolidating near the resistance. This current development is a positive move for the price of Bitcoin. Consolidation near a resistance level increases the chances of a possible breakout. On the upside, if the $60,000 resistance is breached, the Bitcoin price will retest or break the next resistance at $61,000. In the same vein, if the bulls clear the $61,000 resistance, the market will rise above $70,000 high. Conversely, if buyers fail to break the resistance, sellers will break $54,000 support level. This will cause Bitcoin to decline to $48,000 low.
Bitcoin Is Now \u201cToo Important To Ignore\u201d, by Deutsche Bank<\/strong>
According to Deutsche Bank analysts, Bitcoin\u2019s market capitalization has reached $1 trillion and potential for continued growth. The cryptocurrency is \u201ctoo important to ignore,\u201d. Deutsche Bank expects governments to start regulating Bitcoin by the end of 2021. Deutsche Bank analysts suggested that Bitcoin price \u201ccould continue to rise\u201d further as long as asset managers and companies continue to enter the market. Reports have it that Central banks and government should understand that Bitcoin and other cryptocurrencies have come to stay.<\/p>\r\n