It’s been a positive week for bitcoin so far. The world’s oldest cryptocurrency is continuing its rebound from a Sunday price crash, appreciating 12% on a bullish run that isn’t showing signs of slowing down.
“Bitcoin reached above $12,000 on August 2, but it's ascension was stopped short,” said Jean-Baptiste Pavageau, a partner at quantitative trading firm ExoAlpha. “However, the impact on bitcoin was short lived, and a breakout above $12,500 on high volume would definitely put BTC on the way.”