BTC Surges to $45,000, as Russia Considers Accepting the Crypto for Oil & Gas – Market Updates Bitcoin News

After it was revealed that the Russian government might accept Bitcoin as payment for energy, Bitcoin surpassed its $45,000 ceiling. BTC soared 24 days after the news, and ETH also reached a peak of five weeks.

Bitcoin

BTC traded nearly 5% higher than usual on Friday due to markets reacting to Russia’s news about accepting Bitcoin as a payment in oil and gas.

Following a low of $42,753.56 during Thursday’s session, BTC/USD climbed to an intraday high of $45,046.08 on Friday.

This represents the bitcoin highest-ever price in just 24 hours. It follows the breakout of the $42,500 resistance.

Friday’s rally sees bitcoin prices climb for the fourth consecutive session, gaining over 11% in that time period.

This move pushed the price of strength above its ceiling. The 14-day RSI climbed past its resistance level at 62.33 and is now tracking at 63.83.

This run would continue and BTC could move past $46,000. It will reach its highest point in four months.

.

Ethereum

ETH was not to be left behind on Friday, as the world’s second-largest cryptocurrency also surged to a multi-week high.

Ethereum climbed to an intraday high of $3,183.96 during today’s session, which is the highest point at which it has traded since February 10.

Today’s gains means that ETH has now climbed for 11 of the last 12 sessions, gaining over 15% within that period.

The chart shows that if this bullishness continues, then we might be looking at $3,000.

However, the RSI currently tracks at 66.6. This is because it remains in an overbought area, which may hinder further gains.

Were there any further highs for ETH or BTC in the weekend? Please leave your comments.

Eliman Dambell

Eliman has a broad perspective on market analysis. He is a former brokerage director and retail trading teacher, and a market commentator for Crypto, Stocks and FX.