Bitcoin Price Surges to a New Monthly High at $11,700

Bitcoin has mimicked gains on Wall Street and registered a new monthly high at over $11,700. Binance Coin’s 8% surge has assisted with regaining the 5th spot by market cap.

Bitcoin has continued with its recent impressive performance to a new monthly high of about $11,700. Some altcoins have followed BTC on the way up. Ethereum has increased to $385, while BNB has returned to the 5th spot.

Bitcoin Spikes To A New Monthly High

In the past 24 hours, the primary cryptocurrency seemed to have issues with its price performance. After trading at about $11,400 for a few hours, Bitcoin headed down and bottomed at $11,200 (on Binance).

However, the bulls intercepted the move and initiated an impressive leg up. BTC firstly reclaimed the $11,500 level before heading even further upwards to about $11,720. This is the new highest price tag BTC has seen since early September.

Although Bitcoin couldn’t sustain its run and started losing steam, the asset still trades above $11,500.

From this point forward, BTC has to fight off the resistance lines at $11,600, $11,750, and $11,910 before potentially challenging the psychological $12,000 level. Read More

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