reached weekly highs of $11,189 Monday, Feb. 19 as the largest cryptocurrency met resistance around $12,000.
Data from major exchanges tracked by showed BTC/USD suddenly retaking $11,000 before momentum reversed at just under $11,200.
The latest peak is around $700 lower than ’s 2018 high of $11,901, achieved Feb. 21 before a widely forecast capitulation took hold. Prices subsequently dropped to around $9,500 last week.
Problems escaping a restricted price cycle were highlighted in February by commentators, including trading educator and an online analyst known as Filbfilb, who bearish profit-taking occurring at a maximum $12,400 during the Feb. 21 high.
bitcoin is nonetheless outperforming altcoins Friday as market sentiment produces broad downturns for the majority of non-bitcoin assets.
BTC has also managed to reclaim market capitalization share in the second half of last month, rising to above .
The optimism around bitcoin appears rooted in the technical improvements to its network which received a boost last week.
, a protocol which gives users faster and cheaper transactions, full support in the latest bitcoin Core client release, 0.16.0.
bitcoin’s support for the protocol appeared in tandem with implementations of SegWit by major exchanges and .
SegWit now accounts for almost 30% of the total number of bitcoin transactions, .
Published at Fri, 02 Mar 2018 17:52:14 +0000
