News
Bitcoin’s 200-day moving average hits new all-time high as BTC rises 10% according to U.Today
U.Today – During his recent appearance on CNBC’s Squawk Box show, investor and entrepreneur Anthony Pompliano (commonly known as Pomp in the cryptocurrency community) shared with the hosts what’s been going on since Friday.
Pomp said that despite daily volatility, Bitcoin continues to grow year-to-date.
Factors Fueling Bitcoin Price Recovery, 200-day MA ATH
However, since Friday, the world’s flagship cryptocurrency is up more than 10%. The price surge, Pomp said, was spurred by the fact that on Friday, for the first time since January, Grayscale’s GBTC ETF saw an inflow of $63 million after four months of consistent outflows. Pomp reminded the audience that this is the largest Bitcoin ETF and with the first inflows starting to arrive, the price was stimulated to rise.
Another important factor cited by Pomp was the fact that Bitcoin’s 200-day moving average hit an all-time high, surpassing $50,000 for the first time.
After breaking above the $65,000 level today, however, the leading cryptocurrency has been pushed back by 2.14% and at the time of writing, is changing hands at $63,800.