Bitcoin rises 14%, becomes the top performing asset of 2020 again

The world’s largest cryptocurrency, Bitcoin soared over 14 percent on April 30 reclaiming its pre-coronavirus bull run of 2020.

It was quoting at $8,852.46, up 14.1 percent, at the time of writing this copy. It touched an intraday high of $8,973.08, nudging the crucial $9,000 levels and an intraday low of $7,755.07.

The digital currency is now up 30 percent from its March lows, outperforming the likes of S&P 500 (25 percent), Nifty (27 percent) as well as other major markets.

“Bitcoin is now trading at a critical inflexion point, where significant Fibonacci retracements, 50-day moving averages, and 10-day moving averages converge on the daily chart,” said Forbes report, quoting analysts at Singapore-based bitcoin index fund Stack.

The turning of this resistance to support could see “further price action upside towards $9,300”.

With the sharp surge, Bitcoin has reclaimed its position as the top rising asset class of 2020 once again, outperforming the likes of…