By Michael Baker

Bitcoin has made a comeback in recent days on the back of recent bullish news and increased optimism over digital coins. The currency, which incorporates block-chain technology, has enjoyed a gain of over 20% this week so far.

Goldman Sachs new chief executive David Solomon previously spoke of exploring Cryptocurrency trades beyond publicly-traded derivatives in an interview with Bloomberg. He went on to state,

“We’re listening to our clients and trying to help our clients as they’re exploring those things too.”

Black Rock CEO Larry Fink has confirmed that the world’s largest asset manager has assembled a working group to look at block-chain technology and Cryptocurrencies such as bitcoin. In an interview with Reuters, Fink stated that “We are a big student of block-chain” and that he doesn’t currently see “huge demand for Cryptocurrencies”. However, any investment by Black Rock, which manages over $6.3 trillion in assets, would be seen as a major endorsement of the block-chain technology.

Bitcoin’s lows have been held by the November 2017 and February 2018 lows which has clearly marked itself as a pivotal support level. Below here could be seen as a huge blow for Bitcoin, however, they have pushed higher and started to attack key resistance levels. Areas of interest are located around 7726 and then the 23.6% fib at 8992.

BTCUSD – Daily Chart – Bitcoin Surges 21% In Only A Matter Of Days


Source: ETX Capital

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