Bitcoin reclaims 55k

Following an earlier update on the progress of Bitcoin, the lead cryptocurrency has now reclaimed levels above 55k. Earlier today it stalled just short of 56k and then fell back very close to 53k. The rebound back above 54k from there has now been extended to above 55k once again. Clearly, and as noted here earlier, there seems to be a growing (if rather loose) correlation with the wider dollar and not just the EUR/USD. That is because the dollar has now edged lower again as Bitcoin as rebounded. Of course that may not be consistent and is subject to considerable variation too. Irrespective of that, Bitcoin is now on the up again and if it can break above the earlier, Asian session high at 55,828, then it might open a path towards a retest of the all time record high at 58,350. Bitcoin is just now trading at 55,170