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Huizai
2021-03-15

@LEEQXBitcoin huh

Bitcoin Falls Back After Weekend Rally to Record Above $61,000

(Bloomberg) -- Bitcoin retreated Monday after scaling $61,000 for the first time on bets that some o

Bitcoin Falls Back After Weekend Rally to Record Above $61,000

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Bitcoin has climbed more than 1,000% in the past year, pushed higher by signs of increased institutional and corporate interest alongside the usual speculative demand.</p>\n<p>Crypto has seen “some good flow, with traders front running U.S. stimulus checks,” Chris Weston, head of research at Pepperstone Group Ltd., wrote in a note, adding Bitcoin needs to stay above the previous high of just over $58,000 to bolster confidence in a “new bull leg.”</p>\n<p>The lively debate over the scope for more stimulus-fueled gains, and whether it’s even possible to work out a long-term value for Bitcoin, continues apace. 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Bitcoin has climbed more than 1,000% in the past year, pushed higher by signs of increased institutional and corporate interest alongside the usual speculative demand.\nCrypto has seen “some good flow, with traders front running U.S. stimulus checks,” Chris Weston, head of research at Pepperstone Group Ltd., wrote in a note, adding Bitcoin needs to stay above the previous high of just over $58,000 to bolster confidence in a “new bull leg.”\nThe lively debate over the scope for more stimulus-fueled gains, and whether it’s even possible to work out a long-term value for Bitcoin, continues apace. The token’s volatile climb from the depths of the pandemic-induced rout in markets last year far outstrips more traditional assets like stocks and gold.\nBitcoin-Gold Ratio Hits Record After Token’s 1,000% Jump: Chart\nJeffrey Halley, senior market analyst at Oanda Asia Pacific Pte, and Matt Maley of Miller Tabak + Co both see the potential for further gains based on some recent chart patterns. 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Bitcoin Falls Back After Weekend Rally to Record Above $61,000

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