 "bitcoins")
Here’s something for recently emboldened crypto enthusiasts to mull: Bitcoin is now at its most expensive level since just before the spectacular crash of the most widely owned digital currency.
As the coin’s price broke above $5,000 for the first time since November this week, the GTI Global Strength Indicator, a technical analysis tool, showed it’s the most overbought since its run-up to nearly $20,000 in December 2017. Similar patterns have in the past presaged multi-week downturns. Bitcoin climbed another 3 percent on Friday.
“The market got so compressed, volatility was so low, it just went poof!
As the coin’s price broke above $5,000 for the first time since November this week, the GTI Global Strength Indicator, a technical analysis tool, showed it’s the most overbought since its run-up to nearly $20,000 in December 2017. Similar patterns have in the past presaged multi-week downturns. Bitcoin climbed another 3 percent on Friday.
“The market got so compressed, volatility was so low, it just went poof!
