Bitcoin Soars To Its Highest Level Since January 2018

According to alqabas Bitcoin extended its recent gains in trading on Friday, as it continued its weeks-long rally, approaching $ 16,000 for the first time since January 2018.

The digital currency joined a large number of assets from oil to Asian stocks, which rose in the wake of the US elections.

Bitcoin gains rose above $ 15,500 for the first time since early 2018, although by 9:39 am in New York it was at $ 15,469.

The latest spike in the digital currency, of more than 30%, comes last month, as Tuesday's US presidential election results remain unconfirmed. With turmoil against the backdrop of the US presidential race, coupled with the possibility of continued government spending and easy monetary policy regardless of who wins the presidency, all factors reinforce one thing: demand for bitcoin has returned.

The cryptocurrency continued to decline by as much as 80% from its peak over the following year, hitting nearly $ 3,700.

For her part, expert at Fairlead Strategies, Katie Stockton said that there are some signs of exhaustion of the upside in the short term from an overbought / oversold perspective, which supports a few weeks of consolidation, but we will see this healthy from a technical perspective.

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