Bitcoin prices rallied today, breaking through $55,000 and climbing to their highest level in close to five months.
The digital currency reached $55,322.12 around 9 a.m. EDT, CoinDesk data shows.
Marc Bernegger, a board member of Crypto Finance Group, commented on these developments.
“After several pieces of bad news in the last few weeks the momentum changed in the recent days and it seems that the general outlook and macro economic situation moved to the very bullish side of things.”
He noted that recently, the outlook surrounding bitcoin has “changed drastically,” and as a result, “quite a few market participants are expecting new all time highs.”