Cryptocurrency
‘Safe Haven’ Bitcoin Rockets Toward 3-Month High; Up 32% YTD
As reported by CCN, “Bitcoin’s price rallied to nearly three-month highs on Wednesday, as the largest cryptocurrency continued to demonstrate risk-off appeal amid the coronavirus outbreak. “Bitcoin peaked at $9,429.99 on Bitstamp, its highest since early November. The flagship cryptocurrency was last seen trading at $9,326, having gained more than 3%. “The technical charts showcase an […]
As reported by CCN, “Bitcoin’s price rallied to nearly three-month highs on Wednesday, as the largest cryptocurrency continued to demonstrate risk-off appeal amid the coronavirus outbreak.
“Bitcoin peaked at $9,429.99 on Bitstamp, its highest since early November. The flagship cryptocurrency was last seen trading at $9,326, having gained more than 3%.
“The technical charts showcase an asset that’s in a clear uptrend. The latest candle on the daily chart puts bitcoin above the 200-day moving average. It blew past the 50-day MA more than three weeks ago.
“At current values, bitcoin accounts for 66.4% of the overall cryptocurrency market. Its market cap of nearly $170 billion represents a $50 billion recovery from last month’s swing low.
“Altcoins and tokens followed in bitcoin’s lead on Wednesday, as Ethereum, bitcoin cash, Litecoin and EOS all reported gains of at least 2%. The total crypto market cap peaked near $258 billion, the highest since late September…”