Bitcoin price accelerated above $50000 for the first time since Dec. 13.  Major U.S. stock indexes also rose amid improving U.S consumer sentiment in December. That said, Increased demand for the riskier asset  fuels the bullish trend for BTC.

For the past months, fears of the rapid spread of the Omicron variant, regulatory concerns and rising inflation worries have weighed on the industry which allowed bears to dominate the systemic, prominent trend.

Positive economic data and calming fears about the new variant has allowed stocks and crypto’s to limit further losses, raising the prospect of a delayed ‘Santa Claus’ rally.

Elsehwere, With venture capital firms boosting their exposure to crypto this year, seven out of ten all-time biggest cryptocurrency- and blockchain-related early-stage venture capital investments took place in 2021, according to a recent report by financial data and software company PitchBook.

Microstrategy CEO Michael Saylor talked about his bitcoin strategy and BTC price prediction in a recent interview with the Information, published this week. Saylor revealed that he personally owns at least 17,732 bitcoins, which is the same amount he disclosed back in October last year. At the current BTC price, his bitcoin stash is worth almost $858 million.

Saylor foresees bitcoin hitting $600,000 a coin, and eventually $6 million. This comment also turns to be favorable for the King Crypto – Bitcoin.

BTC/USD 4 Hour Chart:

Support: 48816.9 (S1), 46783.1 (S2), 45499.0 (S3).

Resistance: 52134.8 (R1), 53418.9 (R2), 55452.7 (R3).

Improved Consumer sentiment favors the Bitcoin bulls. We expect a bullish trend for BTC/USD.