Bitcoin price reached a high of $5930 May 7 as renewed momentum fuelled a market surge towards the significant $6000 barrier.

Bitcoin Price Highest Since November 2018

Data from traditionally more conservative price tracker Bitstamp showed BTC/USD trading just under $5900 at press time.

The pair reached its highest value since November 2018 earlier on Tuesday, coming within just $70 of $6000 across major exchanges.

The $6K level was critical last year in maintaining support for months. Therefore, it will be key resistance to break in officially confirming the end of the bear market.

The trend continues a bullish phase which began April 1, with Bitcoin broadly maintaining new support above $5000 since that time.

Are Shorts Forecasting $6k?

Market strength continues despite controversy over the past two weeks, with exchange Bitfinex and stablecoin Tether (USDT) currently at the heart of $850 million fraud allegations.

Brought by the New York Attorney General, both the defendants and a Supreme Court judge appear unconvinced by…

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