A recent Bloomberg article titled “Bitcoin Breaches $10,000 to Hit Highest Level Since October” by Vildana Hajric and Joanna Ossinger highlights the cryptocurrency’s latest upward trend. According to Bitstamp pricing, Bitcoin rose past the psychologically significant level on Sunday for the first time since October. Bloomberg pricing indicates that the cryptocurrency rose as much as 4.3% on Monday from Friday’s close to $10,163, capping a gain of about 40% so far this year. Per the article, Bitcoin’s five figure breach “comes amid an equities rally that’s seen the S&P 500 Index reach new highs as fears abate that the coronavirus will dent global growth.” “The rally is a part of a broader appeal for risky assets as optimism grows that the coronavirus impact might be limited to the first quarter and on optimism that China will play nice with the U.S. on phase-two trade talks,” Ed Moya, senior market analyst at Oanda, was quoted in the article.
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