Bitcoin climbed over the weekend to the $19,200 territory. Looking at ether’s price as a percentage of spot BTC, it may be undervalued.
- Bitcoin (BTC) trading around $19,196 as of 21:00 UTC (4 p.m. ET). Gaining 0.35% over the previous 24 hours.
- Bitcoin’s 24-hour range: $18,990-$19,323 (CoinDesk 20)
- BTC near its 10-hour moving average but above the 50-hour on the hourly chart, a flat-to-bullish signal for market technicians.
The price of bitcoin reversed course over the weekend from a downward slide, with an upward trend that began on Saturday.
“This weekend, bitcoin demonstrated a V-shaped reversal. After the appearance of such a figure, the growth usually continues,” said Constantin Kogan, a partner at investment firm Wave Financial.