Bitcoin neared $5,500 this week. Will it keep pushing higher?
Share to twitterBitcoin approached $5,500 this week, but fell back quickly. Later, it dropped below $5,000, before bouncing back. Bitcoin has been trading north of $5,000 for most of today, building strength above this key, psychological level after experiencing some tumultuous trading days.
Bitcoin prices have since recovered, breaking through $5,000 and remaining above that level for roughly the last 12 hours. When explaining these price fluctuations, analysts pointed to technical analysis and market dynamics.Members of the SFOX Research Team, for example, emphasized that bitcoin prices have been trending higher for most of this month.
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