{"id":16712,"date":"2023-01-21T13:41:48","date_gmt":"2023-01-21T13:41:48","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/btc-moves-to-5-month-high-as-eth-nears-1700-market-updates-bitcoin-news\/"},"modified":"2023-01-21T13:41:48","modified_gmt":"2023-01-21T13:41:48","slug":"btc-moves-to-5-month-high-as-eth-nears-1700-market-updates-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/btc-moves-to-5-month-high-as-eth-nears-1700-market-updates-bitcoin-news\/","title":{"rendered":"BTC Moves to 5-Month High, as ETH Nears $1,700 \u2013 Market Updates Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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Bitcoin surged to a five-month high to start the weekend, as bullish sentiment returned to cryptocurrency markets. Prices of the world\u2019s largest digital currency rose above $23,000, rebounding from a recent drop towards $20,000. Ethereum also rallied, as it hit its strongest point since September.<\/strong><\/p>\n

Bitcoin<\/h2>\n

Bitcoin (BTC<\/a>) raced past the $23,000 level to start the weekend, with prices climbing to a multi-month high.<\/p>\n

Following a low of $20,961.21 on Friday, BTC<\/a>\/USD climbed to an intraday peak of $23,249.89 earlier today.<\/p>\n

Today\u2019s rally saw bitcoin jump to its highest level since August 24, when price at the time was trading at a top of $23,600.<\/p>\n

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BTC<\/a>\/USD \u2013 Daily Chart<\/figcaption><\/figure>\n

As can be seen from the chart, the move comes as the 14-day relative strength index (RSI) moved back towards a ceiling of 90.00.<\/p>\n

Currently, the index is at the 86.30 level, with earlier gains somewhat fading, as traders move to secure profits.<\/p>\n

As of writing, BTC<\/a> is trading at $22,902.03, which is still roughly 9.27% higher than yesterday\u2019s low.<\/p>\n

Ethereum<\/h2>\n

Like bitcoin, ethereum (ETH<\/a>) also surged on Saturday, as it climbed to its highest mark in the last four months.<\/p>\n

ETH<\/a>\/USD hit a high of $1,674.18 earlier in the day, which comes following a bottom of $1,550.03 on Friday.<\/p>\n

As a result of the move, ethereum recaptured a high not seen since September 13, which is the last time it traded over $1,700.<\/p>\n

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ETH<\/a>\/USD \u2013 Daily Chart<\/figcaption><\/figure>\n

Although prices are currently below this threshold, the resurgence of bullish momentum on Saturday could lead to further surges this weekend.<\/p>\n

The surge has pushed the 10-day (red) moving average back into an uptrend, extending its distance from its 25-day (blue) counterpart.<\/p>\n

Overall, ethereum is up 6.28% as of writing.<\/p>\n

Register your email here to get weekly price analysis updates sent to your inbox:<\/em><\/p>\n

Do you expect ethereum to rise above $1,700 this weekend? Leave your thoughts in the comments below.<\/strong><\/em><\/p>\n

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\nEliman Dambell <\/h6>\n

\nEliman brings an eclectic point of view to market analysis. He was previously a brokerage director and online trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX, whilst also a startup founder.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

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