RATE Group | Bitcoin Price Spikes to Three-Month High as Bull Cross Approaches
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Bitcoin Price Spikes to Three-Month High as Bull Cross Approaches

03 Feb Bitcoin Price Spikes to Three-Month High as Bull Cross Approaches

Posted at 13:14h in Bitcoin News by

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  • Bitcoin’s ongoing upward trend still looks strong with the 50- and 100-day averages eyeing their first bullish crossover since March 2019.
  • The cryptocurrency looks set to test $10,000 over the next few weeks.
  • A minor pullback to levels below $9,000 may be seen before a stronger rally as the short-duration charts are suggesting bull fatigue.

Bitcoin printed a three-month high on major exchanges early Monday with key indicator eyeing its first bullish turn in 11 months. 

Prices rose to $9,615 on
Luxembourg-based Bitstamp exchange during the Asian trading hours. That was the
highest level since Oct. 28. The top cryptocurrency also hit a three-month high
of $9,628 and $9,615 on Bitfinex and Coinbase, respectively. 

Meanwhile, bitcoin’s global average price, as calculated by CoinDesk’s Bitcoin Price Index (BPI), fell $30 short of Friday’s high of $9,633 – the highest level since the end of October. 

Notably, the move higher happened as China’s stock market fell 8 percent…

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