Bitcoin Secures And Stays Bid Above $8,000
Bitcoin is really bouncing back from the minor wobble seen in Asian hours.
CoinDesk‘s Bitcoin Price Index (BPI) is at $8,165 – up 3.9 percent from the overnight low of $7,573. That said, the cryptocurrency is still down 3.7 percent from the previous day’s high of $8,582.
On Coinbase’s GDAX exchange, BTC clocked a high of $8,650 yesterday before a technical failure at key trend-line resistance pushed prices back to $7,535. However, the dip was short-lived and the cryptocurrency moved back above the $8,000 mark this morning and was last seen changing hands at $8,280.
The positive price action indicates the investors continue to cheer the conciliatory tone adopted by the U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission at Senate hearing on Tuesday. See Bitcoin’s 4 hour Chart below:
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Bitcoin is still maintains its value as the Crypto with the highest value.