Cryptocurrencies
Digital Gold Mantra Revived After Bitcoin Tops Technical Hurdle
- Largest digital token broke above its 50-day moving average
- Cryptocurrencies gain on Friday, with Bitcoin adding nearly 4%
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Bitcoin extended its recent rally above $10,000 on Friday, crossing over a key technical level that could mean further gains ahead.
The largest digital token climbed above its 50-day moving average, an indicator used to analyze trends and potential inflection points. Though it has been trading in a narrow range between its 50- and 100-day moving averages for weeks, some analysts see the former acting as a ceiling. A decisive break above could be a bullish signal.