Bitcoin passes over $ 6,000, the rally continues

09.05.2019 / 19:17

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Bitcoin's nine-day rally continues as the price has already managed to successfully break the $ 6,000 limit. Bitcoin performs well from other rivals, and since December has already recovered 90% of its value. Moving over $ 6,000 is another successful digital tower challenge.

The winning Bitcoin series is the longest since May 2017. On Wednesday, the price is slightly corrected for the news that a successful hacker attack against Binance has taken place.

Recognizing Bitcoin as an official, regulated derivative remains the main problem of massive adoption of the digital currency, also taking into account the long history of past hacker attacks.

"Bitcoin's long-term technical profile is still pointing to a new ascending cycle." - says Rob Sluymer, strategist at Fundstart Global Advisors LLC. He believes that the digital currency will continue its rebound, given that it still holds well above the 200-year average.

Source: Bloomberg Finance L.P.

Graphs: Used with permission of Bloomberg Finance L.P.

Trader Martin Nikolov

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Bitcoin passes over $ 6,000, the rally continues

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