Bitcoin just jumped above $47,000 and could be on a straight path to $50,000, analysts say

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Bitcoin jumped to $47000 after staying below $45,000 this past week, it was expected but it was still looking like a long shot especially after bitcoin crashed from $60000 to $30000, that bitcoin price action has left a lot of investors still skeptical about the digital currency.

Is it bullish or bearish, many people want to know, me personally i believe we are bullish short term because what this elon musk crash has done is to mess with the bull circle which we once understood, because normally august is the time to be planning on leaving crypto but in this crypto circle we are seeing that it want to start recovering from this price which is crazy and a little suspicious, that is why when it comes to investing i am sitting by the sidelines because historically we are in crucial times.

Fundamentally bitcoin looks very bullish even technically but in the short term you may see some bearish price movement but expect to see crazy bitcoin pumps in the future, and the altcoins are moving too which is expected in the last bitcoin pump of this bull circle which i think there is going to be a shock around the corner that will come unexpectedly because bitcoin loves to keep people on their toes when it comes to prices and short term prices.