Bitcoin rebounds to $50,000 over BofA’s positive recommendations

Crypto prices are still climbing despite tougher regulatory scrutiny round the world. The rally brings prices to the highest since early September.

Bitcoin has jumped to around $50,000 as Bank of America Corp. strategists threw their weight behind cryptocurrencies as a new asset class.

Bitcoin price has shifted into a higher gear after the breakout on 1 October. Bitcoin traders who missed the entry at $44,088 had a solid entry at $47,065 with two technical reasons to get in.

Profit targets are $50,029 in the short term and retesting the double top at $53,350 in the medium term.