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CryptoWatch: Bitcoin homes in on $8,000, hits two-month high

Coming off its best week since early April, the worlds biggest digital currency continues to climb higher, opening Monday in the green.

After adding 16.5% last week, a single bitcoin BTCUSD, +2.46% last changed hands at $7,696.18, up 2.4% from the Sunday 5 p.m. level on the Kraken crypto exchange. Earlier in the session, it had reached an intraday high of $7,770.58, the highest level since May 23.

The technical outlook for bitcoin continues to show bullish signals as it broke the 100-day moving average, a momentum indicator that is closely observed by traders.

BTC/USD

Read:Barry Silbert says bitcoin put in its 2018 low, but 99% of cryptos are worthless

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