After lingering below recent highs for almost a month, bitcoin finally broke the $465 resistance level on Friday. In the next two days the the $500 round figure gave way as well, marking a high of $544 dollars on Sunday. Litecoin is faithfully following BTC so far, up 11.5 percent since Friday.
Bitcoin Surges 17 Percent
Everyone’s favorite crypto-currency surged 17 percent in the past few days alone. After clearing the important $462 – $465 resistance level (noted HERE) BTC hit $495 dollars by Saturday and $544.58 dollars on Sunday. The $465 resistance help up prices for the past few months so it’s not a surprise that bitcoin went out of control once the level was finally broken. As expected, a similar spike happened on a break of $500 dollars, last year’s high for BTC/USD on most exchanges.
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