Bitcoin rallies, tops key technical level for first time since early May

Dow Jones2021-07-26

The price of bitcoin rallied over the weekend, trading above its 50-day moving average for the first time since early May.

Bitcoin surged Saturday and into Sunday, recently trading at $37,973. according to CoinDesk, after recovering from its dive below the $30,000 level on Tuesday. Bitcoin is up nearly 20% over the past five days.

The weekend gain put bitcoin above its 50-day moving average for the first time since May 9, according to CoinDesk data.

The world's largest cryptocurrency got a boost from some influential names last week , Twitter CEO Jack Dorsey and ARK Invest's Cathie Wood.

The price of ethereum also saw a weekend surge, and is up more than 17% over the past five days. Dogecoin is up a more modest 8% over that time.

Bitcoin is up 21% over the past month, and is 30% higher year to date, though more than 40% off its April high.

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Comments

  • Eded
    2021-07-26
    Eded
    Another news from China on ban will hit down Bitcoin price again 
  • Soksok
    2021-07-26
    Soksok
    Good 
  • andrew123
    2021-07-26
    andrew123
    $100k here we come
  • Cucumbers
    2021-07-26
    Cucumbers
    To 100k and beyond 
  • ZOANMAN
    2021-07-26
    ZOANMAN
    Like me pls 
  • CHOOTC
    2021-07-26
    CHOOTC
    Balance with risk
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