After yesterday’s slight drop, bulls take over the market and push Bitcoin price to $12,000

After yesterday’s minor drop, bulls took over the market, pushing prices to $12,000, which is now a critical area to determine the future of BTC.

Currently, Bitcoin is at the psychological threshold of $12,000, which is a critical area that will determine its near-term future.
After a dull, largely stable August that saw Bitcoin close below 4% higher, the largest cryptocurrency by market cap has surged in September.
After a small drop of around $50 yesterday, the token’s price managed to rise by more than $350, with the bullish run coming to a halt after BTC briefly breached the $12,000 mark.
From the big picture perspective, Bitcoin is running in a bull market, with the monthly candle pointing to a steady recovery from the 2019 crash, which saw Bitcoin go from nearly $14,000 in June of that year to below $6,500 in December.
In comparison, 2020 started out looking very good until the COVID-19 pandemic dealt a heavy blow to most markets, with Bitcoin experiencing its worst crash in March since the 2018 correction.
The decline did not last long, and by April, Bitcoin broke expectations and separated from the stock market, and its behavior began to resemble another safe-haven asset, gold.
This month, Bitcoin's performance at the beginning of the month reinforced the stock market to flow price prediction model, which believes that the price of Bitcoin will rise after the halving. So far, what most people call a coincidence has happened again, and the model seems to be running like clockwork. (Baijiahao)