Cryptos: Bitcoin extends gains, homes in on $4,000

Bitcoin prices moved higher on Wednesday, extending gains from the previous session, moving the digital currency toward $3,900 and nearing $4,000 — a level viewed by technical analysts as a point of resistance.

In Wednesday morning trade, one bitcoin BTCUSD, +0.88% was fetching $3,846.30, up 0.3% since Tuesday at 5 p.m. Eastern time on the Kraken exchange. The cryptocurrency hit an intraday high at $3,891.00, its highest level since Feb. 28.

Read:ETF trading on the blockchain signals where digital currencies could be headed

What are analysts saying

“Over the past 24 hours, bitcoin adds more than 3% and trades around $3,900.

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