Thursday, 22 August, 2019

Bitcoin passes $7,000 level as winning streak continues

Source Trading View Source Trading View
Jean Garcia | 16 May, 2019, 06:59

"Bitcoin is acting differently since moving above its 200-day moving average" and the gains are occurring on strong volume, Fundstrat co-founder Tom Lee, a noted Bitcoin bull, wrote in an email.

Bitcoin gained more than 35% in April, due largely to a 20% jump that caused puzzlement among traders and underscored flaws in cryptocurrency markets.

The advance comes only a few days after the digital asset broke through $6,000, and looks set to boost investor interest in conferences on the technology underlying the biggest crypto asset taking place in NY this week.

Bitcoin has seen a sustained uptick in recent weeks and hit $8,000 in early trading Tuesday, prompting renewed interest in its comeback.

Bitcoin's price is rallying, surpassing the $8,000 for the first time this year. Facebook, meanwhile, is building a crypto-based payment system.

Woman Shouts 'I'm Pregnant' Before Being Gunned Down By Officer
He had previous dealings with her because he was aware she had outstanding warrants, according to Lieutenant Dorris. Police say that's when a struggle ensued, forcing the officer to deploy his department issued taser at the woman.

According to data from Bitwise, which adjusts reported bitcoin spot volumes to account for fake volumes, the $1 billion plus worth of CME bitcoin futures volumes in the prior 24 hours was nearly double the bitcoin spot volume on Binance and triple volumes on Coinbase.

Digital currency experts have weighed in on reasons for the surge.

"There are literally dozens of reasons for Bitcoin to be surging right now but the important thing to remember is the main driver of this rally is increased adoption", Mati Greenspan, a senior market analyst at eToro, told Business Insider.

Binance, a large crypto exchange, reported a hack of 7,000 Bitcoins with about $40 million.

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