Bitcoin reached its highest level since December 2021, hitting $54,910 today. The number one cryptocurrency has increased 30% in the last month and 130% in the last year.

Will Bitcoin, which has caught a six-month upward trend, be able to sustain this rise? According to Katie Stockton, founder of Fairlead Strategies, the rally is likely to continue. Stockton stated that the breakout of the resistance level at $48,600 has been confirmed and this is a sign of a mid-term upward movement. Stockton said she thinks the uptrend will advance to the short-term resistance levels of $56,400 and $64,900 respectively. Emphasizing that Bitcoin has a long-term positive momentum according to technical indicators, Stockton added that there is no sell signal on the monthly chart.

Bitcoin is considered to be rising due to investments in ETFs and the upcoming halving. As it is known, the fourth halving of Bitcoin, which takes place every four years, will take place next April. With the halving, the rewards miners receive per block will be halved. Therefore, this will further reduce the number of Bitcoins produced. Bitcoin’s past halvings took place in 2012, 2016 and 2020.

On the other hand, another important development today was MicroStrategy’s decision to continue purchasing Bitcoin. The company, where Michael Saylor is executve chairman, announced that it bought another 3,000 BTC. Thus, MicroStrategy’s Bitcoin assets reached 193 thousand BTC.