Bitcoin extends gains to above 40k

Well, it has taken a while, but finally Bitcoin has managed to make it back above 40k this afternoon. The rise so far today has seen it lift to as high as 40,390. The move higher in Bitcoin is as usual helping to float a good many other crypto boats too, but certainly not by as much. The weekend failure to make any further traction below 35k has in effect endorsed the current longer term double bottom that is in place around 31k. In fact, that looks increasingly like providing the necessary platform for a more substantive rebound. Of course there will be many voices that want to stand in the way of that and that is clearly news that is yet to break. It is nonetheless likely to do so at some point, but for the time being its Musk who is back in the driving seat. Bitcoin is just now trading at 40,315