Monday, May 20, 2024

Bitcoin reached a new price level of $28,500 on the 5th of April and Ethereum rose close to the $2,000 mark – which is its highest in eight months. This was due to recent economic news from America, which showed that job openings there had fallen below 10 million for the first time since 2021 – meaning employers are cutting back on hiring.

Bitcoin (BTC) Flies High on Wednesday, Could Reach Beyond $29,000!

Bitcoin (BTC) went up and surpassed a key level on Wednesday, with traders now predicting it could move beyond $29,000.

It started off low at $27,979.75 yesterday but later increased to a peak of $28,739.24 in today’s session. With this rise, bitcoin broke through the previous high-point of $28,500 which made it reach its highest point in four days.

Analysts imagine that this surge came about when the Relative Strength Index (RSI) increased after staying around 58 for a while.

Right now, the index for Bitcoin (BTC) is at 62.48. There is a good chance that BTC will be more than $29,000 if bulls (investors who are optimistic about the future price of an asset) can reach the next major goal of 65.00.

Ethereum Price Soars to 8-Month-High

Ethereum (ETH), just like Bitcoin (BTC), has been climbing and recently reached 8-month high. This is shown by how the ETH/USD exchange rate moved to a highest point of $1,921.27 for the day after trading at a low of $1,855.37. It got back to its best time since August 17 when price had hit a peak point of $ 1957 which then led to another rise in price that was recorded as 65.87 on the current reading – slightly less than 66.00 measurement up above.

Today, Ethereum has gone up and it’s trading at $1,915.88, but some investors have chosen to take their profits which decreases ETH’s price. If you want to stay updated with the weekly analysis of the prices, sign-up with your email address here! Do you know why did the Ethereum experience a surge today? Please leave your thoughts in the comments below!

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