Bitcoin Pierces, Remains Above $8,000 Barrier as Rally Underway

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Bitcoin Pierces, Remains Above $8,000 Barrier as Rally Underway
BitcoinNews via

After attacking the resistance levels of USD 8,000 for the third day in a row yesterday, Bitcoin bulls finally found some joy with a sustained push above that price level to trade now at USD 8,110 (8:10 am UTC, CoinDesk). Almost as soon as Central European markets closed yesterday, Bitcoin price spiked from USD 8,013 to its 24-hour high of USD 8,249 in just under an hour as North American markets showed their voracious appetites.

It is now 17 hours since Bitcoin last traded under USD 8,000, and if this can hold and survive the European markets today, it will be a full day above resistance, which will be a strong signal that a fresh rally not seen since May is underway. Total market capitalization has also now reached USD 261 billion (CoinMarketCap) as the rest of crypto is seemingly buoyed by Bitcoin’s strength.

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