Bitcoin Rises Above 50-Day Average for First Time Since January
(Bloomberg) -- Bitcoin bulls may have just got the technical signal they've been hoping for.
The world's biggest cryptocurrency by market value rose above its 50-day moving average for the first time since mid-January, up as much as 5.8 percent on Monday, the most in two weeks.
The rebound comes after a precipitous fall from record highs in December amid debates on how to value the digital coin and threats of regulation. Crossing the key level may raise spirits of investors as they look for anything to spark a renewed rally.
To contact the reporter on this story: Lisa Fu in New York at lfu53@bloomberg.net.
To contact the editors responsible for this story: Arie Shapira at ashapira3@bloomberg.net, Sebastian Silva, Dave Liedtka
©2018 Bloomberg L.P.
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