The world’s largest cryptocurrency, Bitcoin soared to $3850 percent in March
Perpetual contract was quoting at $9,375.50, at the time of writing this copy. It touched an intraday high of $9,454.50 nudging the crucial $9,600 levels .
The digital currency is now up 135 percent from its March lows, outperforming the likes of S&P 500 (25 percent), Nifty (27 percent) as well as other major markets.
“Bitcoin is now trading at a critical inflexion point, where significant Fibonacci retracements, 50-day moving averages, and 10-day moving averages converge on the daily chart,” said Forbes report, quoting analysts at Singapore-based bitcoin index fund Stack.
The turning of this resistance to support could see “further price action upside towards $9,600”.
With the sharp surge, Bitcoin has been top raising asset class in 2020 , outperforming the likes of gold, crude, stocks as well as corporate bond.