The bitcoin price has increased from $5,341 to $5,587 on Coinbase, getting close to surpassing a 2019 high at $5,594. In some crypto major markets, the bitcoin price surged past $5,600.
According to Peter Brandt, a technical analyst and a best-selling author, a technical indicator called the Factors benchmark weekly moving average (MA) has formed a similar structure it showed in 2015.
The last time Factors benchmark weekly MA was in the current profile of turning from down to up was in Nov 2015 just as $BTC began its move from $340 to $19,800, Brandt said.
Bitcoins strong performance comes amidst the iFinex scandal is being played out, a case in which the office of the New York Attorney General alleged Bitfinex of mismanaging $900 million of Tethers cash reserves in an attempt to cover-up an $850 million loss.
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https://www.ccn.com/bitcoin-jumps-4-to-new-2019-high-boosted-by-20000-trigger-indicator