The price of Bitcoin exceeded $ 11,500.00. New heights are in perspective

During today’s trading, the price of the most popular crypto currency in the world has risen to the level of 11 511.31 per coin, thereby maintaining an upward trend since early 2018. This growth, both Bitcoin and other currencies, is associated with a decrease in fears over the tightening of trade in crypto-currencies. Pressure declined after last week the government of South Korea announced that it will allow further work of crypto-exchanges in the country. It is also worth noting that the main fears that hover around the crypto currency are its use in illegal activities, so the introduction of certain regulatory measures can only strengthen the demand for a safer asset.

Technical analysis: During yesterday’s trades, Bitcoin’s price managed to gain a foothold above $ 10,800.00, after which a new wave of growth led to the update of the maximum price of the crypto currency. At the moment, the closest resistance is $ 11,700.00, if Bitcoin’s price is able to gain a foothold above this level, one should expect its further growth to $ 12,800.00, $ 13,200.00. The main support levels are $ 10 600.00, $ 10 100.00.

See, also “Bitcoin for $ 50 000. Forecasts of analysts”.

Alexander Sivtsov