After more than a month of lateral trading, bitcoin’s price appears to be gearing up for a major breakout in the not-too-distant future. The largest cryptocurrency finally pierced above $8,000 on Tuesday thanks to a noticeable spike in trade volumes.
After a quiet start to the year, bitcoin’s price has attracted stronger bids over the past two days. The largest cryptocurrency clawed above $8,100 on Tuesday for the first time since Nov. 20. The nearly 5% rally has some traders excited about an imminent trend reversal.