A strong rally over the last seven days sent Bitcoin prices firmly above the $7,000. Ethereum and XRP registered double-digit gains, too—see Table 1.
Most gains came in the last forty-eight hours, following positive comments by Goldman Sachs’ incoming CEO about the digital currency.
Then came a technical buy signal. Bitcoin prices crossed the 50-day moving average with a rising trade volume. Other cryptocurrencies followed suit, with 96 out of the top 100 cryptocurrencies registering big advances—See Table 2.
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