Bitcoin rises to the highest since March 12. What's next

Author: Adam Button | Category: Cryptocurrency

Nice looking chart but there's a hurdle ahead

Bitcoin hasn't been responding as well as gold to the inevitable devaluation of fiat currencies on massive money printing and fiscal stimulus but it's perked up today.

After two weeks of consolidation, Bitcoin is up 6.2% today to $7563. I like this mini breakout but it will take a break above $8000 to really get the bulls excited. But if that happens, I envision a quick trip back to $10,000.

Nice looking chart but there's a hurdle ahead

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