$5,850: Bitcoin sets new all-time high – the long trend is bullish analists says
Bitcoin has hit a new all-time high today, with prices reaching $5,855 on the CoinDesk Bitcoin Price Index.
At press time, the bitcoin-U.S. dollar (BTC/USD) exchange rate is trading at $5,500 levels. Week-on-week, BTC is up 25 percent, while month-on-month it’s up 39 percent. The new record broke a previous all-time high of $5,013 set in September.
All in all, it’s a sharp reversal of trend given the cryptocurrency dropped to a low of $2,980 in mid-September on the news China had banned token sales and that local cryptocurrency exchanges would shut in the aftermath. However, in subsequent days, bitcoin’s price quickly regained, reportedly due to a pick-up in trading volumes in Japan, South Korea and other markets.
Increased institutional interest seems to have played a role in boosting bitcoin prices.
For example, a rumored „bitcoin desk” at Goldman Sachs would certainly be a game changer for the nascent market. Still, it’s just the latest sign professional traders are increasingly interested in the market.
Further, even while skeptics continue to call the bitcoin rally a bubble, the price action analysis indicates no serious trouble ahead for the cryptocurrency.
All major moving averages – 50-day moving average, 100-day moving average and 200-day moving average – are perfectly aligned one below the other, which indicates the long-run trend is bullish.
Source: coindesk.com
Anders Olofsson – former Head of Payments Finastra
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
