Bitcoin price is exciting industry and mainstream press sources alike as it moved above the 50-day moving average for the first time since January.
What Bitcoin Bulls Were Waiting For?
Data from Bloomberg since reproduced by social media commentator Armin van Bitcoin shows BTC/USD hit $ 11,454 – a 5.8% daily increase taking the rate above the barometer average price.
Despite the levels being short-lived, enthusiasm was unusually palpable even for Bloomberg, the publication announcing that “Bitcoin bulls may have just got the technical signal they’ve been hoping for.”
Commenting on the development, van Bitcoin similarly implied a bullish upward trend was about to begin.