bitcoin price: Bitcoin pierces $57,000 as traders resume push for record highs

Synopsis

Analysts who look at patterns in price charts say that $60,000 is the next level of resistance, though Bitcoin’s relative strength index above 70 suggests that its now in overbought territory.

Related

  • Wall Street could get four Bitcoin futures ETFs by month-end

Bitcoin climbed above $57,000 for the first time since May as speculators bet that the largest cryptocurrency will retest the record highs reached earlier this year.

As in past rallies, a myriad of reasons are being cited for the latest surge, from an easing of concern about regulatory efforts in the U.S. and China, as well as renewed optimism about a possible U.S. Securities and Exchange Commission approval of a a Bitcoin exchange-traded fund.

Analysts who look at patterns in price charts say that $60,000 is the next level of resistance, though Bitcoin’s relative strength index above 70 suggests that its now in overbought territory.
Presented By

Did you Know?

RBI is working towards a ‘phased introduction’ of the digital rupee. The digital rupee will likely coexist with cash and digital forms of payments.

View Details »
Bitcoin priceBloomberg

Source

Updated: 10/11/2021 — 12:00