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Bitcoin Tops $11K for First Time in Almost 3 Weeks
Bitcoin appears to have broken out of its tight trading range over the past two weeks, between roughly $10,500 and $10,800.
Bitcoin broke through $11,000 on Friday, reaching its highest price in almost three weeks.
STORY CONTINUES BELOW
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- The rise comes a day after payments company Square announced it had put 1% of its total assets into the largest cryptocurrency by market cap.
- Prices hit $11,023 at 11:05 UTC – the highest since Sept. 20, according to CoinDesk's Bitcoin Price Index.
- The rally to $11,000 marked an upside break from the past two weeks' range of about $10,500 and $10,800.
- The cryptocurrency remained fairly steady above $10,000 over the past two weeks, despite news of the KuCoin exchange hack, U.S. regulators bringing criminal and civil charges against BitMEX, and President Donald Trump's announcement he would end talks with Democratic lawmakers over a new fiscal stimulus package.
Omkar Godbole
Omkar Godbole is a Co-Managing Editor on CoinDesk's Markets team based in Mumbai, holds a masters degree in Finance and a Chartered Market Technician (CMT) member. Omkar previously worked at FXStreet, writing research on currency markets and as fundamental analyst at currency and commodities desk at Mumbai-based brokerage houses. Omkar holds small amounts of bitcoin, ether, BitTorrent, tron and dot.
