Bitcoin Flips $44k To Support, Bulls In Longest Rally Since September

Even though Bitcoin (BTC) was rejected at $45,500, hope for another substantial advance in the cryptocurrency market has reappeared. Bulls are now aiming to beef up their defense at the $43,000 support level. According to TradingView data, after reaching a weekly high of $45,500 early on Feb. 8, bears were able to lower the price of Bitcoin to $42,900 during afternoon trading as investors realized profits and prepared to place bids at $38,000. At the time of writing, the pioneer token is worth $44,091. Bitcoin Steadies At $44k Bitcoin (BTC) bulls have successfully returned the main digital currency’s price to the $44K support level, boosted by encouraging occurrences. Most notably, the Canadian subsidiary of accounting major KPMG recently announced that it has integrated BTC and ETH to its corporate treasury. In addition, Tesla Inc reported in a recently filed 10-K that it possessed nearly $2 billion in BTC at the end of last year. The quick rise caught many traders off surprise, as headlines across the crypto community predicted the start of a lengthy bear market, but such grim predictions may have been premature, according to data from a recent Glassnode research. According to the blockchain research company, “prices have bounced off a number of fundamental levels that have historically signaled undervaluation or a “fair value” price.” The founder and CEO of multi-strategy firm Banz Capital, Joh...