Bitcoin prices rose on Friday, trading to their highest level in five weeks and on track to log a second successive winning month.

On Friday, one bitcoin BTCUSD, -0.60%  fetched $4,122.09, up 1.8% since Thursday’s level at 5 p.m. Eastern time, its highest level since Feb. 24, according to Kraken data. The cryptocurrency is on track to log back-to-back winning months for the first time since December 2017.

What are analysts saying

“Bitcoin is at its highest level in more than a month this morning, currently testing resistance around $4,200 per coin. Some analysts might note that it seems the long-term bear trend line has now been broken,” wrote Mati Greenspan, senior market analyst at eToro.

“However, trendlines may be drawn differently by each chartist so this isn’t the purest indicator out there. What’s more pertinent at the moment is the 200-day moving average that draws ever nearer.”


Read more: https://www.marketwatch.com/story/bitcoin-set-to-book-back-to-back-winning-months-for-the-first-time-in-15-months-2019-03-29?mod=markets

LEAVE A REPLY

Please enter your comment!
Please enter your name here