Bitcoin climbed to a fresh year-to-date high last night, moving sharply higher as the China stock market plummeted on its reopening after an extended Lunar New Year break. However, last week investors were warned the latest bitcoin rally might have come too fast and gone too far. Analysis of bitcoin technical data revealed the bitcoin price was above the upper-band limit of the GTI Vera Band Indicator—something that has twice recently signaled an imminent correction. The bitcoin price has resisted fears it might be due a correction, with the price adding some 30% ... [+] since December. CoinbaseMeanwhile, the coronavirus has also caused problems for the bitcoin and cryptocurrency industry.

Source: Forbes February 03, 2020 07:30 UTC