Sunday, April 22, 2018

Following the end of tax season, Bitcoin breaks four month trend and experiences two straight weeks of gains

It has been quite a while since Bitcoin was able to break out of a series of ranges that lead up to April 17 and the end of tax season the United States.  However since that time the cryptocurrency has done something the sector hasn't seen for nearly four months...

Two straight weeks of gains.

Bitcoin bulls are celebrating the virtues of the biggest cryptocurrency again.
The digital coin gained as much as 4 percent Friday, putting it on pace for its first back-to-back week of gains this year. The mini-rally is helping to ease the pain from the more than 50 percent loss in the first quarter that followed last year’s 1,400 percent surge. 
The increase has bought the gains over the two-week period to almost 29 percent. Other crypto tokens rallied Friday, with Ripple jumping as much as 19 percent, Ethereum climbing 7.5 percent and Litecoin adding 4 percent. - Bloomberg
What will be of interest in the coming days for Bitcoin is its price movement later in the week as the next CME Futures contract expiration comes due.


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