Bitcoin Price Closes Above $13K for First Time Since January 2018 Driven by a Flurry of Good News

Each day closes since Q4 2019 with candlestick wicks removed.

Bitcoin closed above $13,000 Saturday for the first time in over two and a half of years following per week of sure files for the leading cryptocurrency.

  • Bitcoin had final closed above $13,000 on Jan. 15, 2018, six weeks after bitcoin closed above $13,000 for the first time on its methodology to an all-time high of $19,892, primarily based totally on Coinbase market records.
  • Through leisurely June and early July in 2019, bitcoin quick traded above $13,000, revisiting that trace level on Wednesday thru Friday, nonetheless peaceable failing to shut above it.
  • This week, files that PayPal is allowing its potentialities to steal and sell sure cryptocurrencies, alongside with latest investments in bitcoin by Square and MicroStrategy, has given the leading cryptocurrency a valuable tailwind. Trusty the day prior to this, JPMorgan analysts wrote that bitcoin has “no doubt intensive upside capability.”
  • Bloomberg Intelligence dwelling $13,000 as a breakout trace target for bitcoin in a July sage that known as the leading cryptocurrency a “caged bull”.
  • Year up to now, bitcoin has received 82 p.c.
  • Bloomberg Intelligence Senior Commodity Strategist Mike McGlone, who authored the sage, told CoinDesk in an electronic mail he became impressed how bitcoin broke above $10,000 in leisurely July and was that level into support when it became revisited from the upside in early September.
  • As for the long speed, bitcoin’s “traditional and technical indicators stay sure,” McGlone acknowledged.

Each day closes since Q4 2019 with candlestick wicks removed.
Supply: TradingView

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