Bitcoin hits highs since May after recovering $ 40,000

After a few weeks of tense calm, bitcoin holders are in luck again. Its value rises more than 8% in the last 24 hours, reaching highs in mid-May and reaching above 41,000 dollars.

In this way, the cryptocurrency continues above its moving average of the last 50 days, currently located at 34,000 dollars, which constitutes a bullish sign from the point of view of technical analysis.

Bitcoin accumulates a revaluation of more than 40% so far this year, and 23% in the last seven days, despite the downward pressure to which it has been subjected in recent weeks after marking all-time highs above the $ 60,000 in mid-April.

From FundStrat they attribute the boom of the last days to an attempt by Chinese investors to save their money from the stock market before the latest restrictions of the Chinese Government in some of the large companies, so that bitcoin, more difficult to control, has become a refuge.

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