Bitcoin gets a significant boost from Amazon

Bitcoin has broken the recent mould of downbeat weekend session has enjoyed a really positive couple of days. The lead cryptocurrency was already making progress before the news broke; that apparently the internet retail giant, Amazon is soon to allow its usage for the purchase of goods over the net. That is certainly potentially very big news. It has caused the price to spike from around 34,650 earlier today, to as high as 39,680. The more than $5,000 gain came a little earlier today, at the start of the Asian session. The impact of the spike in the Bitcoin price has also had a very positive impact across the entire crypto sphere. The break above the 50 day moving average on Bitcoin (Now at 34,280) was the first sign of a move higher and this news from Amazon was the clear cut catalyst to really propel it higher. The next level of resistance is now the 100 day moving average, currently at 40,750. Under the current circumstances it would be extremely unwise to rule out a test of this level today. Bitcoin is just now trading at 38,515