Bitcoin prices have rallied modestly within the last 24 hours, rising to their highest in roughly two weeks before losing momentum.
The world’s most prominent digital currency reached as much as $12,070.23 earlier today, its loftiest price since August 18, CoinDesk data shows.
However, the cryptocurrency’s upward price movement stalled, and the digital asset has been trading within a reasonably tight range, additional CoinDesk figures reveal.
[Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.]
Joe DiPasquale, CEO of cryptocurrency hedge fund manager BitBull Capital, weighed in on the matter.
“$12,000 has continued to be a strong resistance for Bitcoin but the bulls have persisted over the last month, rallying around the $11,000 level to provide strong support,” said DiPasquale.
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