The price of Bitcoin has risen to $52,000, but the upward trend may weaken

According to Bloomberg, the revival of retail trading has recently pushed Bitcoin prices to a high of about $52,000. However, the current upward trend may be weakening. As of 2:15 p.m. New York time on Friday, Bitcoin fell about 1.8% this week.

 

If this trend continues, it will be Bitcoin's first negative week since the end of January. Retail investors' enthusiasm for the recently approved spot bitcoin exchange-traded funds and the next halving event (which halves new bitcoin supply) has driven asset prices up by 25% in recent weeks. Strategists said: "Bitcoin bulls are taking a breather after four consecutive weeks of gains. After such a strong rally, a round of profit-taking is expected."