As Bitcoin tops $40,000 again, analysts eye $50,000
Al Jazeera
Bitcoin gained as much as 4.5 percent on Monday to hit $41,020.
After a volatile weekend, Bitcoin has once again surpassed $40,000, reaching its highest level in more than two weeks. The world’s largest crypto gained as much as 4.5% Monday to $41,020, extending its rally to a second day. The coin has rallied roughly 9% since Friday. The wider Bloomberg Galaxy Crypto Index, which tracks some of the major cryptocurrencies, also advanced, adding as much as 7.7% at one point. With Bitcoin crossing the $40,000 threshold, many chartists are looking at $42,500 as its next important level to breach. That number roughly represents its 200-day moving average and topping it could mean the coin rallies toward $50,000.
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