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Cryptos: Bitcoin hits 5-week high, set for back-to-back winning months

Bitcoin prices rose on Friday, trading to their highest level in five weeks and on track to log a second successive winning month.

On Friday, one bitcoin BTCUSD, -0.60% fetched $4,122.09, up 1.8% since Thursday’s level at 5 p.m. Eastern time, its highest level since Feb. 24, according to Kraken data. The cryptocurrency is on track to log back-to-back winning months for the first time since December 2017.

What are analysts saying

“Bitcoin is at its highest level in more than a month this morning, currently testing resistance around $4,200 per coin. Some analysts might note that it seems the long-term bear trend line has now been broken,” wrote Mati Greenspan, senior market analyst at eToro.

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