Blockchain and Cryptocurrency: People, Culture and Tech
Bitcoin has seen a transformative week, climbing to near record highs and coming all the way back down again — what could the outlook be now? Bitcoin began the week firmly within the $18,000 range as a combination of rising stocks and weakness in the U.S. dollar created favorable conditions for safe havens.
Bitcoin gained over $1,000 to surge to more than $17,000 on November 17 as a night of steady trading culminated in a fresh uptick. Data from price trackers including CoinMarketCap showed Bitcoin reclaiming yet another milestone price level on Tuesday, with bulls firmly shaking off the weekend’s wobble.
Bitcoin spent another day challenging $13,000 on Oct. 23 as the aftermath of its rapid run to 15-month highs continued to excite investors. The past week has seen some of the most successful trading days in Bitcoin’s history, and as markets prepared to close on Friday, upward momentum showed no signs of reversing.
Bitcoin is stable and just overcame $12,000 resistance as a new week begins—what could take it higher or put the bears back in control? Fresh strength in Stocks forms the background to an interesting change in interplay between macro assets and Bitcoin.
