Bitcoin Approaches $99,000 Levels

The price of the cryptocurrency “Bitcoin” rose again by about 5.9% to $98,500 today.

The price of Bitcoin in trading this morning in New York reached $93,944 per unit, down by about $14,000 from its highest level recorded on December 17.

Bloomberg News Agency indicated that the digital currency has declined to its moving average over the past 50 days, which some see as a reason for caution.

Katie Stockton, a technical analyst at Fairlead Strategies, said that the closely watched moving average test justifies “a return to neutral bias” in light of the cryptocurrency’s decline phase, according to the German News Agency.