Bitcoin rises to new highs on the morning

Bitcoin is making some progress now today. Earlier it had traded sideways ahead of 13,000 and after a brief drop below that level on the European opening it has been a steady rebound since. Earlier the price spiked down to as low as 12,956 as the European equity markets opened sharply lower. Hence the move through 13k looked almost entirely due to risk aversion. The subsequent reversal has now taken the price back to as high as 13,190 in a move that is just as dynamic as the earlier sell off. The rebound now is leading the coin back closer to the highs seen over the weekend when it posted a fresh 2020 high at 13,356. Beyond this level, if it is eventually surpassed lies another important price point to take note of. That is the June 26 2019 high at 13,851. This is a potential target now so long as the current momentum is maintained. However, there is a usual caveat though and that is one that was mentioned a second ago; risk aversion across the wider markets. That is definitely not something to ignore as it certainly has the power to derail the current positive momentum for Bitcoin, which is just now trading at 13,172