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Bitcoin pierces $57K as traders push for record highs

Bitcoin climbed up above $57,000 for the very first time because May as speculators wager that the biggest cryptocurrency will retest the record highs reached previously this year. As in previous rallies, a myriad of factors are being mentioned for the current rise, from an easing of issue about regulative efforts in the U.S. and China, along with restored optimism about a possible U.S. Securities and Exchange Commission approval of a Bitcoin exchange-traded fund.Analysts who take a look at patterns in cost charts state that $60,000 is the next level of resistance, though Bitcoin’’ s relative strength index above 70 recommends that its now in overbought area.86942833.

Read more: economictimes.indiatimes.com

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