Bitcoin prices rallied today, climbing to their highest in more than two months as the digital currency surpassed $43,000.
The world’s most prominent cryptocurrency reached $43,341.84 this afternoon, CoinDesk figures show.
At this point, the digital asset was trading at its most elevated level since May 19, additional CoinDesk data reveals.
[Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.]
Bitcoin has been trading primarily between $30,000 and $42,000 since late May, but the latest gains don’t mean the cryptocurrency has broken through resistance near the upper bound of that range, said Katie Stockton, the founder and managing partner of Fairlead Strategies, LLC.
“A confirmed breakout would require consecutive closes above $42,465, which could happen tomorrow as a bullish development,” she stated.
Should the innovative digital asset keep rising in value, Stockton noted it will next encounter resistance close to $51,000.
William Noble, the chief technical analyst of research platform Source…