The cryptocurrency market has been climbing fairly well over the past few weeks.  Despite the drop, Bitcoin has been able to establish its position at the $5,000 region, and it has not yet incurred any kind of selling pressure after climbing the $5,300 price range.

A cryptoanalyst on twitter tweeted:  “I’m a buyer from 5150 to 4900. That is all.”  Thus, indicating that it is a good decision to buy in the given range considering the current market trends.  The price range between $5150 and $4900 is the newly formed trading range in which anyone willing to buy more Bitcoin can do the buying.  Most of the analysts are looking for newly formed levels of support and resistance.

Since Bitcoin was not able to break the upper boundary of the price range, it might be very likely for it to fall back down to the $5,000 region sometime in the near future.

The RSI which is commonly used to assess whether an asset is being overbought or oversold technically indicates that BTC is on the verge of the Bullish run.

While most of the investors are looking at the Bitcoin, there are other types of crypto assets which deliver a fair share of gains to their investors.  It is about the Altseason on the horizon.  One of the industry analysts has to state that this is a cyclical industry event, where the Altcoins perform better than the original cryptocurrencies like the Bitcoin.

Tom Lee has to state that the Altseason is already here, but this does not mean that he is Bullish about the Bitcoin either.

Talking about the Bitcoin Misery Index, which is used to measure the average sentiment of the investors concerning their need to hold Bitcoin, it is seen at 89, which is the highest signal one could have ever seen in the bear market. Thus, according to Tom Lee, the BTC is out of the bear market.  This analyst finally is convinced about the bears to have finally bitten the dust.

Yet another interesting news doing the rounds is about Bitcoin mining to have become profitable over again and many are wondering if it proves that we are in the Bull market.   The breakeven cost for Bitcoin in the current trend is at $3,550.

Alex Kruger, an economist, has to state:  “The bitcoin mining operational breakeven for efficient mining operations currently stands around $3550.”