Reuters: bitcoin’s consolidation trend has risen about 70% this year

Bitcoin hit an all-time high on Tuesday, only $60 lower than $50000, continuing its sharp rise. Bitcoin, the first and most famous cryptocurrency, touched $49938 and has risen about 70% this year. Justin d’anethan, sales manager of diginex, a Hong Kong based digital asset company, said: “bitcoin has been in a range for the past four or five days, indicating that the rally has stalled or there is a consolidation trend.” “We believe in the latter,” he said, as recent strong demand has been driving down the limited supply of bitcoin.

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