RATE Group | Bitcoin Sparks Altcoin Redemption Rally as BCH, BSV, LTC Surge
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Bitcoin Sparks Altcoin Redemption Rally as BCH, BSV, LTC Surge

14 Jan Bitcoin Sparks Altcoin Redemption Rally as BCH, BSV, LTC Surge

Posted at 17:24h in Bitcoin News by

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  • Bitcoin hits $8,745.24 on Bitstamp, the highest since early November.
  • Altcoins show strong upside, with Bitcoin SV, bitcoin cash, Litecoin and EOS registering double-digit percentage gains.
  • As a collective, crypto markets are trading at two-month highs.

Bitcoin’s technical breakout intensified on Tuesday, serving as a primary catalyst for altcoins to extend their rally.

The resulting rally pushed the total cryptocurrency market cap north of $233 billion, the highest in two months.

Bitcoin Blows Past $8,700; Altcoins Extend Rally

The bitcoin price catapulted to an intraday peak of $8,745.24 on Bitstamp, the highest since Nov. 14. The largest cryptocurrency by market cap was last seen trading just above $8,700, having gained 7.3%.

Bitcoin faces psychological resistance at $9,000 but the primary hurdle is $9,100, which represents the 200-day moving average on the daily chart. Momentum is clearly on the side of the bulls, with the relative strength index (RSI)…

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