Bitcoin lifts to session highs above 48,500

The lead cryptocurrency is on the move higher again this afternoon. Earlier today it was noted that Bitcoin had reclaimed the 47k handle and now it has reclaimed the 48k handle. That move actually took place a while ago, but it is now rising more as lifts past 48,500. As noted here this morning, the turn around from the weekend low at 43, 061 has now increased the chances that the downside correction to that level from the record 58,350 high may have run its course. That could be further endorsed if Bitcoin can recapture levels above 50k from here on. That is not a given by any means, but right now it has some traction and is currently trading at 48,630