Bitcoin (BTC) Back Over $5,500, Similarities to 2017 Starting to Show

Since the fallout from the Tether fiasco markets had started to cool and even show signs of pulling back. Analysts predicted a drop back to lower levels, led by Bitcoin if it could not break higher. As we end the week the opposite appears to be happening as BTC climbs back up towards its 2019 high.

Bitcoin hit a weekly high of $5,540 an hour or so ago and continues to move higher. It has spent the best part of the past seven days around the $5,300 level as altcoins lost ground. On Wednesday BTC shifted gear and moved up to $5,400 and today it has taken a further step up to $5,500. The 2.5 percent daily gain has raised total crypto market capitalization back towards $180 billion – the top of its trading range over the past month.

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