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Bitcoin Hits Six-Month High; Surge Driven By Technical Forces


On May 3, the famous and biggest cryptocurrency bitcoin hit a new six-month high, which traders said comes due to technical factors as there are reported no other drivers for the surge.

Bitcoin Hits Six-Month High; Surge Driven By Technical Forces

Bitcoin moved past $5700, its highest price since November 14, with a spike of more than 6%.

On the Bitstamp exchange, the vitual token was last trading at $5680, making the gains for the currency to be 55% so far this year.

In line, other cryptocurrencies such as Ripple's XRP and ethereum whose prices share correlation with bitcoin also surged.

Read more about: bitcoin cryptocurrency
Story first published: Saturday, May 4, 2019, 11:18 [IST]
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