The momentum of trading on the “Bitcoin” currency continued to reach its highest level since May, as the cryptocurrency achieved gains for the tenth consecutive day, and was trading at a price of 42,390 dollars, yesterday, Saturday.
“Such a move certainly indicates some support from the cash flow,” Jonathan Cheesman, director of corporate and sales at cryptocurrency exchange FTX, said in a note on Saturday. .
“Bitcoin” had been subjected to a downtrend for several weeks, to decline from its high recorded in mid-April at $65,000, but it spent a week in which it made up for some of its losses supported by supportive comments from Elon Musk and Kathy Wood, which pulled it out of the downside, in addition to “Amazon” ads. About the functions of crypto-assets and the movement of speculation on them.
Market watchers had pointed to the $40,000 as an important turning point in the march of the largest cryptocurrency.