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Bitcoin (BTC) price has just hit $ 7,800, its highest level since the collapse of March 12
The price of Bitcoin (BTC) has shot up by more than 10 percent in the past 24 hours, reaching an intraday high of $ 7,777 on the Gemini exchange.
Despite giving up a substantial portion of its earnings, the leading cryptocurrency continues to rise nearly six percent on the day.
As crypto merchant The Crypto Dog pointed out, this is the second time that BTC has broken above the $ 7,500 level this year. The last time the cryptocurrency accomplished this feat, it shot up to its 2020 peak of $ 10,500 in just over a month.
According to leading cryptocurrency trader Josh Rager, the BTC price should record a daily close above the $ 7,400 level for a bullish continuation.
It’s worth noting that this big rally coincided with another green day on Wall Street, meaning that this rally could be more than just a flash in the pan. The S&P 500 is currently up 1.53 percent.
