Bitcoin Price Jumps 10%, Outperforms S&P 500 by 10x YTD

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The weekend has been a positive one for bitcoin price which has cranked a further 10 percent as it heads towards $12,000. The move makes BTC a better performing asset than stocks by a factor of ten so far this year. Bitcoin Powers Through Resistance Since bitcoin price broke above $10k late last week it hasn’t looked back. After spending most of Sunday hovering just below $11k BTC surged almost 10% to power through resistance and touch a new 24 day high. The bulls were charging during Asian trading today as bitcoin reached $11,800 according to Tradingview. BTC price 1-hour chart – Daily volume has cranked up to $20 billion once again as millions of dollars in BTC shorts on BitMEX were liquidated. On the daily chart, bitcoin is now into its seventh consecutive green candle which has pushed it back above the 50-day moving average indicating a strengthening…

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