Bitcoin (BTC) hit $50,000 for the first time in a month on Oct. 5 as a triumphant return to form continued.BTC/USD 1-hour candle chart (Bitstamp).
Source: TradingViewBTC’s price hits one-month highData from Cointelegraph Markets Pro and TradingView showed BTC/USD adding another 5% Tuesday to briefly return to the psychologically significant price point.The latest success of Bitcoin’s “Uptober,” bears were swept aside as resistance levels tumbled.
![Bitcoin taps $50K for first time in one month amid heavy BTC price volatility Bitcoin taps $50K for first time in one month amid heavy BTC price volatility](https://gamehot.today/wp-content/uploads/2021/10/bitcoin-taps-50k-for-first-time-in-one-month-amid-heavy-btc-price-volatility_615c3139b8a8f.png)
The largest cryptocurrency had benefited from macro uncertainty, compounded by a mass social media outage impacting Facebook, Instagram and others.For Cointelegraph contributor Michaël van de Poppe, a look at previous price behavior suggested upside was the more likely conclusion for current movements, with a dip likewise limited in scope.
Given the conclusion from historical price action, it seems more likely that Bitcoin will be breaking upwards towards anything around $50,000 or maybe even the recent high, and then comes down towards $49,000 before we continue to rally back up,” he said in his latest YouTube update.
![Bitcoin taps $50K for first time in one month amid heavy BTC price volatility Bitcoin taps $50K for first time in one month amid heavy BTC price volatility](https://gamehot.today/wp-content/uploads/2021/10/bitcoin-taps-50k-for-first-time-in-one-month-amid-heavy-btc-price-volatility_615c313a3e085.png)
He added that an “ideal” bounce zone for a retest would be around $47,500, but any lower would not be advantageous for bulls.Altcoins slow off the markBitcoin, meanwhile, led major altcoins at the time of writing, these being slower to react.
![Bitcoin taps $50K for first time in one month amid heavy BTC price volatility Bitcoin taps $50K for first time in one month amid heavy BTC price volatility](https://gamehot.today/wp-content/uploads/2021/10/bitcoin-taps-50k-for-first-time-in-one-month-amid-heavy-btc-price-volatility_615c31394eaf3-1024x682.jpeg)
Related: Bitcoin beats stocks, commodities to best performing asset of 2021Only Dogecoin (DOGE) achieved greater gains over the past 24 hours, these at 10% versus BTC’s 5% thanks once again to veiled publicity from Elon Musk.The largest altcoin, Ether (ETH), by contrast, was 2% higher at just over $3,400.ETH/USD 1-hour candle chart (Bitstamp). Source: TradingView