Home || Recent Post || Bitcoin pierces $57,000 as traders resume push for record highs

Bitcoin pierces $57,000 as traders resume push for record highs


Bitcoin climbed above $57,000 for the first time since May as speculators bet that the largest cryptocurrency will retest the record highs reached earlier this year.  

As in past rallies, a myriad of reasons are being cited for the latest surge, from an easing of concern about regulatory efforts in the US and China, as well as renewed optimism about a possible US Securities and Exchange Commission approval of a Bitcoin exchange-traded fund.

Analysts who look at patterns in price charts say that $60,000 is the next level of resistance, though Bitcoin’s relative strength index above 70 suggests that its now in overbought territory.

Subscribe to Mint Newsletters

* Enter a valid email

* Thank you for subscribing to our newsletter.

Never miss a story! Stay connected and informed with Mint.
Download
our App Now!!



Source link