Bitcoin price rises to six-month high1 min read . Updated: 09 May 2019, 08:48 AM IST
- Bitcoin rises above $6,000 level for first time since November
- The asset was up 2.5% to $6,048.52 as of 9:46 a.m. in Hong Kong
The cryptocurrency, which has been on a wild ride that took it above $19,000 in December 2017 and as low as $3,136.04 in December last year, has clawed its way back to the highest level in more than six months. The asset was up 2.5% to $6,048.52 as of 9:46 a.m. in Hong Kong.
“Bitcoin’s long-term technical profiles continue to point to a new up cycle," said Fundstrat Global Advisors LLC technical strategist Rob Sluymer in a note May 8. He said Bitcoin is continuing to rebound from support at its 200-week moving average, after telling investors last week to buy.
This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.