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As noted by Blockstream CEO Adam Back, Bitcoin's 200-week moving average (WMA) has now surpassed the $45,000 level
Over the past three months, the WMA has added roughly $3,000. A year ago, the 200 WMA was at roughly $32,000
The widely tracked MA is considered to be particularly important since the price of the leading cryptocurrency tends to bottom out at this level
While the price of Bitcoin has dipped below the 200 WMA on several occasions during extreme sell-offs, there is still a good chance that Bitcoin might never drop below $45,000 in the future