Today is the day when Orthodox Christians submerge themselves in icy water to mark Epiphany, celebrating the baptism of Jesus in the River Jordan.
Personally I prefer to celebrate my Bitcoin epiphany with a couple of icy beers, but you know, each to their own.
Bitcoin Price: On The Up
If last week, bitcoin price was all about $8k, then this week was all about $9k. Or to be more specific, would we get there?
Certainly, at the start of the week, the sentiment seemed to have turned bullish. $8k holding throughout the weekend raised hopes of a repeat of last year’s rally.
After a quiet Monday, the price started to pump on Tuesday, perhaps due to a mass liquidation of short positions on BitMex. From $8.1k bitcoin shot up, pausing briefly at resistance around $8.6k before finally topping out at around $8.8k.
And there it stayed for the rest of the week, trading in a range from $8.6k to tantalizingly close to $9k. It was looking as though $9k would have to wait, but then a spurt this morning saw $9k fall, and eyes move on to the…