As it stands, Bitcoin has found a short-term place to stand at ~$7,100 and is 5.1% on the day. Not only does BTC look good in terms of price action, recently surpassing the $6,800 resistance level, but volume figures have also made a resurgence. The collective value of all publicly-available Bitcoin trades has amounted to a hefty $4.9 billion.
This 5% move upwards marks Bitcoin’s fourth continual day in the green, which is Bitcoin’s “longest winning streak in more than a month” as Bloomberg puts it. Bloomberg analyst Eddie van der Walt also noted that there are a series of “momentum indicators” that indicate that this may not be a ‘bear market rally.’
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