You are currently viewing our desktop site, do you want to download our app instead?
Moneyweb Android App Moneyweb iOS App Moneyweb Mobile Web App

NEW SENS search and JSE share prices

More about the app

Bitcoin pierces $57 000

As traders resume push for record highs.
Image: Chris Ratcliffe/Bloomberg

Bitcoin climbed above $57 000 for the first time since May as speculators bet that the largest cryptocurrency will retest the record highs reached earlier this year.

As in past rallies, a myriad of reasons are being cited for the latest surge, from an easing of concern about regulatory efforts the US and China, as well as renewed optimism about a possible US Securities and Exchange Commission approval of a a Bitcoin exchange-traded fund.

Analyst who look at patterns in price charts say that $60 000 is the next level of resistance, though Bitcoin’s relative strength index above 70 suggests that its now in overbought territory.

© 2021 Bloomberg

COMMENTS   0

You must be signed in to comment.

SIGN IN SIGN UP

LATEST CURRENCIES  

USD / ZAR
GBP / ZAR
EUR / ZAR
BTC / USD

Podcasts

INSIDER SUBSCRIPTIONS APP VIDEOS RADIO / LISTEN LIVE SHOP OFFERS WEBINARS NEWSLETTERS TRENDING PORTFOLIO TOOL CPD HUB

Follow us:

Search Articles:
Click a Company: