Bitcoin lifts above 14,000 in weekend trading

Bitcoin managed to make further progress on Saturday when the price rose above the previous two Year high it had set last week when it reached 13,857. Following that gain, the lead cryptocurrency had fallen back almost $1000, but it was already rebounding back above 13,600 on Friday before it managed to make a further move, to as high as 14,087 this weekend. Looking closely at all the daily, weekly and monthly charts on this, there really is not that much technical resistance this side of 15k now. The one thing that is important to note about the most recent gains; is the complete decoupling of the hitherto loose correlation between Bitcoin and the EUR/USD. That had been breaking down anyway. The latest close, below 1.1650 in the EUR/USD on Friday, compared to this latest move higher in Bitcoin is clear evidence of that decoupling. Of course the dominant factor in driving Bitcoin higher over the past couple of weeks remains the truly significant news from PayPal regarding its introduction of Bitcoin across its huge payment network