Bitcoin almost at $8,000, the highest since August , carrying cryptos higher and extending the weekend rally

Yohay Elam FXStreet

BTC/USD extends its advance and is very close to the $8,000 mark at the time of writing, hitting a high of $7,960. The granddaddy of cryptocurrencies is carrying away other digital coins, with Ethereum touching the $200 level and Ripple rising to around $0.3250.

The leaps seen in recent days send prices to their highest since August 2018, before the downfall that followed later that summer and the devastating crash in November and December.

Cryptos are rising despite fears stemming from the Tether scandal and as broader adoption, such as by social media giant Facebook, is becoming more common.

As the chart shows, the next levels to watch are $8,500 seen in August, $10,000 seen in May, and $11,850 seen in March 2018.

Bitcoin technical daily chart May 13 2019

Author

Yohay Elam

FXStreet

Yohay is in Forex since 2008 when he founded Forex Crunch, a blog crafted in his free time that turned into a fully-fledged currency website later sold to Finixio.

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