Bitcoin has soared higher over the past few days. After bottoming at $11,200 late last week after the OKEx news, the cryptocurrency has mounted a comeback.
As of this article’s writing, the <span class="wpg-tooltip-term-title">Coin</span></h3><div class="wpg-tooltip-content">A coin is a unit of digital value. When describing cryptocurrencies, they are built using the bitcoin technology and have no other value unlike tokens which have the potential of software being built with them.<p class="wpg-read-more"><a href="https://www.newsbtc.com/dictionary/coin/">» Read more</a><p></div>”>coin trades for $11,750, around $400 higher than it was trading just 36 hours ago. The <span class="wpg-tooltip-term-title">Coin</span></h3><div class="wpg-tooltip-content">A coin is a unit of digital value. When describing cryptocurrencies, they are built using the bitcoin technology and have no other value unlike tokens which have the potential of software being built with them.<p class="wpg-read-more"><a href="https://www.newsbtc.com/dictionary/coin/">» Read more</a><p></div>”>coin briefly surpassed $11,800 earlier today but was rejected as the U.S. dollar underwent a slight bounce amid stimulus uncertainty. Bitcoin has begun to decouple from traditional markets to some extent, with BTC actually rallying while most other risk-on assets like the S&P 500 have sunk. The cryptocurrency is also outperforming gold.
Related Reading: Here’s Why Ethereum’s DeFi Market May Be Near A Bottom
Bitcoin Soars Higher
Bitcoin has soared higher over the past 24 hours as buyers have returned to the market.
The leading cryptocurrency has gained around $300-400 in the past two days, rallying higher as the U.S. dollar continues its descent lower.
Analysts think that this price action is a precursor to