RATE Group | Bitcoin and the other largest cryptoassets are surging this week
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Bitcoin and the other largest cryptoassets are surging this week

29 Jan Bitcoin and the other largest cryptoassets are surging this week

Posted at 18:51h in Bitcoin News by

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Adam Vettese, UK Market Analyst at eToro, has provided his daily commentary on traditional and crypto markets for January 29, 2020. 

Bitcoin and the other largest cryptoassets are surging this week, moving within touching distance of three-month highs this morning as investors look to alternatives to equities.

Having rallied over 12% in 3 days, it hit a peak of $9,389 overnight, its highest level since early November when it nudged over $9,400. This could prove to be the next significant hurdle of resistance, although if we do see a pullback, seeing the price make another higher low and maintain the 2020 uptrend will be encouraging for bulls.

Ethereum and XRP are also closing in on three month peaks. Ethereum is up at $176, less than 10% off its previous high above $190, although XRP has some way to go. It is trading at $0.236 today after rising sharply throughout January, but is still some 30% off its previous peak of $0.308.

In stock markets, Apple, the world’s largest listed…

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