Last week, bitcoin managed to break above the 100-day moving average, and on Sunday, its short-term growth amounted to over $47 thousand. This event markedly improved the cryptocurrency’s prospects.

In 2019, bitcoin similarly found itself in a bullish range after a 20% breakout. The cryptocurrency hit a new high, followed by another bullish 50% rise.

That chart resembles the current situation, but we should not forget that past events are no guarantee of future results. However, if the situation repeats itself, BTC’s all-time high may await a test.

If BTC manages to stay above the psychologically important $45k mark, the uptrend to $50k could continue.