Cryptocurrencies
Bitcoin Posts Longest Rally in a Month as Charts Turn Bullish
- Digital token breaks above $7,000, exceeds 50-day average
- Closest peers Ethereum, Litecoin, Ripple also advance
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Bitcoin advanced for a fourth day, exceeding $7,000 in its longest winning streak in more than a month, and with momentum indicators suggesting the rally has further to run.
The biggest cryptocurrency climbed as much as 4.7 percent on Tuesday to $7,035, the highest since Aug. 3, on course for the first close above its 50-day average since July, according to composite weekday prices on Bloomberg. Other cryptocurrencies were swept up in the move, with Ripple, Ethereum and Litecoin also advancing at least 3.5 percent.