The price of bitcoin rallied over the weekend, trading above its 50-day moving average for the first time since early May.

Bitcoin
BTCUSD,
+0.07%

surged Saturday and into Sunday, recently trading at $34,614. according to CoinDesk, after recovering from its dive below the $30,000 level on Tuesday. Bitcoin is up more than 8% over the past five days.

The weekend gain — hitting $34,800 at one point Sunday — put bitcoin above its 50-day moving average for the first time since May 9, according to CoinDesk data.

The world’s largest cryptocurrency got a boost from some influential names last week, after positive comments by Tesla CEO Elon Musk, Twitter CEO Jack Dorsey and ARK Invest’s Cathie Wood.

The price of ethereum
ETHUSD,
+0.10%

also saw a weekend surge, and is up more than 11% over the past five days. Dogecoin
DOGEUSD,
+0.14%

is up a more modest 3% over that time.

Bitcoin is up 10% over the past month, and is nearly 20% higher year to date, though about 50% off its April high.

What's your reaction?

Excited
0
Happy
0
In Love
0
Not Sure
0
Silly
0

You may also like

Leave a reply

Your email address will not be published. Required fields are marked *

More in:Latest News