As hopes of bitcoin gaining traction amid economic stimulus, digital cryptocurrency surged past levels of $10000 for the first time since February.
On June 2, 2020, the digital asset surged 5% to trade at $10,168 in early trade in the US.
Even at its current pricing, it is trading at nearly 50% of its highest price that was reached towards the end of 2017.
As of now, the momentum around its attractiveness when central banks worldwide are releasing stimulus measures as well as the security can serve as a hedge against inflation, is working in its favour and supporting it price-wise.
And if continues to trade above $10000, the new highs can be reached and on the other hand if it fails then a sell-off could be triggered.