After starting last week rather weak, Bitcoin began to push higher into Friday and into the weekend, ending up pushing as high as $11,500. For context, the lows of last week came in closer to $10,400, far below the local highs.
While Bitcoin’s upward momentum stalled on Sunday and Monday morning, analysts are still certain that the coin’s short-term trend is bullish. One top investor in the space recently said that there’s a good likelihood Bitcoin trades at $12,000 this week.
What may stop a Bitcoin rally, though, is news of a further delay to another fiscal stimulus bill in the U.S. The bill is partially responsible for pushing BTC higher last week.
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Bitcoin ended up maintaining the technical supports in the low-$11,000s into the weekly close on Sunday morning. The cryptocurrency managing to do so, analysts say, will give it fuel